Chart Talk {Oil}

Long term weekly chart of Brent oil.  I find it interesting that even with all the negative news we've heard around oil recently is that crude has rallied since mid-January.  Not saying that's going to continue but if oil could stabilize then probability suggests that stocks could move higher even if only for a contra-trend rally.  First clues on whether this could be the beginning of a better environment for oil will be to see how it reacts to this bearish downward sloping trend line.  

Chart is from Tradingview.com.

*Long ETFs related to energy in client and personal accounts although positions can change at any time.