Bullish

• Oil can be seen to have a strong horizontal support around the $54 area, as it has been consolidating around these levels for the past few months
• For UWT expect to see some buying pressure if price touches the lower Bollinger band around $9.34, unless there is a fundamental change that causes more downward pressure

Bearish

• MACD is crossing the centerline, indicating longer term momentum can be changing to the downside
• For DWT it has a bullish crossover on the MACD, expect some resistance around the 50 MA, $6.26