RE:Bears/BullsIt appears we should consolidate above 10.75 ... Will have to rethink things if that breaks.
The tops of January and March, although descending, are supported by the uptrend on The October,December,February bottom uptrend. Like I mentioned earlier we hit that today. I don't think that will break but should it, I will have to look at a February April double bottom.
With those descending tops, we may be looking at only a $14 may High. So far this chart is not showing the possibility of oil going much below 40. And I suspect they will do everything within their power to hold the price up despite conditions.
As far as the next leg, it is certainly possible we consolidate in a pool much like what happened in February. We will see.