Oil - what a week!

Oil - make or break without the "stress"

Brent briefly touched the 78 level (78.05 low) on Friday. This is the top from June highs and the break out level from Sep. The 100 day moving average is slightly lower at the moment and the huge trend line from Corona lows is around this level as well. This is oil's line in the sand level to watch.

Note that OVX (oil "VIX") has shown relatively little "panic" during this correction in oil.