Crude oil prices have fallen over the last three weeks and are now back at a support level. We define this as the price area where an old compression formed before the subsequent upward price move began - it acts as support on any subsequent dip. this is a very useful aspect of compressions as the initial 'break' may be too fast or large to catch, so these re-visits are an additional chance to buy. This is a chance to buy crude oil.
A note of caution however - some of the more distant months have recompressed. This is not a reason to avoid this trade but it adds a bit of uncertainty.
This feature of compressions also affects those that lead to downtrends - once the break of the compression has occurred then rallies back to the price area of the compression can be sold - we are waiting to see if this happens in European stocks after the compressions reported yesterday, which broke downward.