$44.00 has provided support for price multiple times over the past few years and a daily/weekly closure above this price level could see buyer confidence come back in to the market.
It would be nice to large increase at this current zone.
Alternatively, a break through this zone could see price continue to fall to the next major support at $28.50 per barrel. This would be a near free-fall for Oil as there is little to stop it once this zone breaks.
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