Technically, Oil is potentially to rebound to higher level when it can retain the level of current level which should be above $74, if this level is retained then, there will be a very high possibility of it to regain its short term bull again.
By forming a symmetrical triangle it open the current position to a bull position, yet the economic data show that there's a lacking of oil inventory this week, which is a good sentiment even it's lower than the consensus result.
Rating: Buy On Weakness; Entry: $71-$73; TP: $80-$83; SL: $70-$70.5
Happy Investing^^
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