Near Term Trend: Bullish / Neutral
As of 4/23/18 @ 12:38am EST: $68.37
UPDATE: Last week, I suggested shorting crude up to $67.22 with stops on a monthly close above that level and with a target on the downside of $40.30.
Crude has made it through $67.22 and is holding above that level thus far. The key for crude will be the monthly close. Stops will be forced if the breakout holds. On the other hand, a failure to hold the breakout would be very bearish and, unless reversed in May, may lead to a drop to as low as $40.
I would be shorting crude here, but would stop out on a monthly close above $67.22. If the breakout holds, the next two upside targets for long-term players would be $75 and $80.