Crude oil is almost bottomed out, now price of $43.5-46.5 became a very strong support and main area to watch for future price projection, Closing below these levels will might raise a doubt of further price slashing till $40 or below but in my view this is very unlikely.
Stochastic is also indicating the reversal sign and behavior of indicator is very much similar to the reversal point of crude price drop of 2008-2009.
It is very likely that crude oil stabilize itself at .382.
Stochastic is also indicating the reversal sign and behavior of indicator is very much similar to the reversal point of crude price drop of 2008-2009.
It is very likely that crude oil stabilize itself at .382.