Analysts at Brown Brothers Harriman noted that May crude oil peaked on March 18 near $42.50. It fell to $35.25 on April 5. Key Quotes: "The rebound to $39.85 before the weekend completed a 61.8% retracement of the decline. The 6% rally before the weekend was the largest advance since February. The technical indicators suggest there is potential to return to the $42.50 high and possibly toward $44.00-$45.00." For more information, read our latest forex news.