After looking at the beat down energy sector and being a part of it I know the cyclical nature of the business. I looked back on COP as its a good baseline of the industry depending on crude price. What i have outlined are the similarites of the last three crashes along with the recovery of COP to a new cycle high. Each consecutive crash was at a lower price from the 2008 highs. At each new crude top COP was able to continually hit $74/sh. if the continuation and time frames continue COP should reach $74 per share when crude is approximately $58/bbl.