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Hansen: What shape will an oil recovery take?

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This week the head of OPEC Abdalla El-Badri said oil prices may have bottomed out and could soon rebound. Saxo's Ole Hansen says there's already been a big move into the market by investors over the last four months, with hedge funds increasing their bullish bets.

So when it comes, what shape will a recovery take? Hansen uses three letters to illustrate what it could look like - LUV. He says that L is the expectation that it will be slow with a long period of sideways trading. A U shape indicates a longer period of consolidation as an oversupply of crude is absorbed. And a V shape would see a sharp bounce as demand increases.

So what shape does Hansen think the market will see? Watch his interview to find out.