Oil

Oil has been in a big down trend since 60+ dollars to now 20 dollars which mean a 1/3 value remaining. After long wait, there is a news today on China including it as reserve. There is also some pice action following up in1 hour time frame for a short period rebound. The price has broken out from a right side consolidation with low volume on the bear bar. This is a good sign that the price action might be follow up further.

As long as the price action keep rebounding off from the moving average, I can see the price may go back to 25 dollars level before waiting for next move.

Let see how it goes.