Since Oil bottomed (26$) we rallied up to nearly 42$ without any significant pullback (no lower lows). When u check my chart you will see the following:
D1 Levels: Fibo .382 @ 35.80 (Retracement since last rally) 50EMA @ 36.09 (imho strong) Resistance @ 36.00 we are still way above the lower trendline (pink) so we are still in an uptrend
Indicators: RSI Oversold TSI reading -29 (most bottoms at around -50) MACD may cross
So my Setup will be:
Long @ about 36.30 S/L around 35.30 Targets @ around 44 (Target1) to 48 (Target 2)