Option Investor
Update
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I was watching to see if Crude would retrace to the December 24th swing low which was also a 50% retracement of the rally from yearly lows to March 26th. It almost made it yesterday with a low of $47.26 but today the bulls returned and turned Crude around with a rally back to the January 26th swing high.

Now we need to see if this rally has the power to break through the March 26th swing high or it if makes a lower high. If it makes a lower high we need to see the April 1 swing low break before we can say the bears have taken control. Until then we just sit and watch.

I think Crude will break through the March 26th highs based on the MACD. If you notice the price made a lower high on March 26th compared to the January 6th high but MACD made a higher high.

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