Last time I posted this chart, the $44 price provided a good 10% bounce in price throughout the following trading week which proved profitable for intraday trading positions.
Since then price has broken much lower thanks to various fundamental events outside of anyones control.
The $28.50 is a strong weekly which held strong after the previous Crude Oil sell off back in 2014 that saw price fall from highs of above $100 per barrel down to $26.
A weekly close above this should see price begin to climb because in my opinion these current lows aren't sustainable for the industry.
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