We've broke an important trendline back in 2015. So far the recent upswings seems more like a mere correction for an impulsive move downwards in the longer run. There is a lot of resistance just above now at 50-52, so be careful with your longs, -still if OPEC reaches a deal today. Look at the increasing volume as well since the downward movement started summer 2014.
Note
Pushing on the monthly trendline now
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.