50% Retracemen held, 4 hr 9 marked swing low

The 50 % Fib-Retracement has held and the 4hr 9 candle marked the swing low. A daily close below $ 39 would kill the bullish narrative at least on the short-term, a daily close above $ 41 could easily translate into a move to the $ 50 to $ 55 area and energy stock owners will feel pretty smart.

Comment:

Staying above $ 40 is crucial. Bulls seem to be in control and another attempt to break the resistance at $ 41.50 should finally make way to $ 45.