Oil is at a major yearly trend line. Micro WTI Crude Oil FuturesNYMEX:MCL1!Trade_NavigatorDevelopments in the middle east can favor further bearishness in which 66 would be a potential near term floor with Ukraine targeting major Russian oil refineries. Yet if the mean for near term is near current price it might be beneficial to keep an eye on this years major bullish trendline. The 200 ema and 50 ema are currently still in a bullish fashion which can change but also may indicate that repricing has been fully realized for positive developments in the middle east. There may still be cause to keep a left eye on any negative developments between three nations that have a historic track record of negativity between them. Israel, US and Iran conflict is still relatively fresh in historic terms and would be very positive to stay stopped yet not unprecedented in the historical middle east fashion to not be fully realized peace in the medium to long term.