Crude oil came down last week and kissed the 200 day moving average(dma) at $70.50(white line). Typically, crude oil bottoms around the middle of February and starts going up into the Memorial Day weekend. This could be a nice short term trade as long as the 200 dma holds. If the price closes below the 200 dma, then next support is $65-$66 on the weekly 50 dma.. USO is another way to play oil.
