Last Tuesday crude oil probably made a subcycle bottom (at $43.06 - November contract chart) within a reversal zone and then it rallied strongly on Wednesday and Thursday. Prices fell back on Friday and are now just above support around $44. This looks like a good point to go long for a new subcycle rally. If Tuesday's low was not the subcycle bottom, then there is the possibility of prices making a new low into the end of this week. Nevertheless, as long as prices stay above $41, that would also be a spot to buy. Right now it looks like Tuesday's low was it and a rally seems imminent. I am going to enter a long position in crude oil now for Monday's market open with a stop loss around $44 which is less than 2% from the current price. If this stop is triggered and prices move lower into Friday (but stay above $41), we will consider going long again.