Near Term Trend: Bullish / Neutral
As of 5/18/18 close: $71.48
UPDATE: Last week, I suggested buying crude on a drop to $61.69 with stops on a daily close below $60 and with a target of $75.
Crude is maintaining its recent bullish posture likely due to the war premium imposed on the market by Middle East tensions. Technically speaking, this chart is bullish plain and simple. Yes, dips will happen. Buy them when they do.
I would buy crude on a drop to $61.69 with stops on a daily close below $60 and with an upside target of $75. If stopped, try longs again at $58 with the same target and stops < $57.