Oil has lately been experiencing a dead cat bounce from its recent waterfall collapse. Late January into the majority of February has been kind to the tarnished commodity. Two MACD short term buy signals that occurred at just under 55 and at about 47 appear to be in danger of evaporating, to be followed by the next signal, a sell signal. What is concerning is oil has had much difficulty remaining above its declining 50 day average, currently at 51.36. Today oil closed at 50.75, off $1.42. Waterfall collapses signal a significant change in trend and require very much time to repair themselves and reverse. I'll take expected lower prices, as it all benefits us at the gas pumps.

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