The above chart shows the crude oil chart for the last 150 years. It has peaked to 110 USD/barrel around 1865, 85 USD/barrel around 1982 and 140 USD in 2009. Its been below 40 USD/barrel for almost 100 years between 1876 and 1976.

Lots of things have changed with the economy over the last 2 centuries and the support levels and resistance levels will need to be adjusted accordingly.

Live Crude Oil Futures Chart (USD/Barrel)