Crude Oil is still in the down trend. It has strong support in 39.30-39.60 area. But it is also in a descending triangle. It recently tests support line frequently and possible to breach this level. Once that happens, more aggressive sell could quickly bring oil price to last low at 35 levels.  That could be a good entry point. It could rise sharply  after re-test low.  Currently just stay away from this sector.