Oil is one of the bright spots in an otherwise dreary commodity market over the past week.

WTI crude is beginning to show signs of a bottom after two months of declines in July and August. It’s early but it looks like there could be a double-bottom forming on the daily chart.

On the negative side, the 100-day moving avg is about to fall below the 200-dma.

WTI daily with 200-dma (orange), 100-dma (red) and 55-dma (green)