Look at the 5 day and draw a line connecting all the highs and lows. We are in a technical bullish pattern. We should see major support around this $.50 level and I expect the buying will continue the rest of the week. I will be adding to my position on any further pullbacks.
On the real, yea it will probably go higher that .87 by the end of the week... I think its curious how the owners of the oil (princes and old rich) are losing money with the long term fall in oil and the uproar of the middle east...timing is interesting