Why cheap oil is an incredible boon for investors

It's not just consumers who are cheering lower energy prices. According to Goldman Sachs, the recent drop in oil prices spells great news for U.S. stocks. And the even better news is oil appears slated to stay cheap.

In a Monday report, Goldman argues"a $10 drop in next year's Brent oil price from our $84 baseline would lift 2015 EPS by about $1 but raise 2016 EPS by $4."

(Watch: Stocks mixed; energy sector smacked by oil's drop)

An increase in earnings would clearly be a positive driver for stocks. But will oil prices actually stay low?

According to one strategist, crude should remain near these levels for the foreseeable future because of three factors: technology, the U.S. dollar, and expected tepid growth in China.

"We're seeing a technological boom that is causing excess oil supply to come on to the market," said Gina Sanchez of Chantico Global. "It's keeping the markets not only well-supplied but a little oversupplied."

Meanwhile, as the economies of Europe and Japan loosen their monetary policies to stimulate growth while the U.S begins tightening, that strengthens the dollar, Sanchez said. "That's going to put more pressure on oil as well."

"China is continuing to slow and, at the margin, that also puts pressure on oil," she added. "That's three major reasons you're going to see oil prices falling over the next – not just few months – but probably the next year or so."

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The technicals also show signs oil prices are going to remain put for a while, according to Mark Newton, chief technical analyst at Greywolf Execution Partners. He says that West Texas Intermediate crude oil – which trades closely with Brent oil – has recently broken below a major trend line in place since 2010.

"The break of this longer-term trend line in crude is certainly a lot more bearish than bullish," he said. "This is a real gamechanger."

And though WTI is now trading under $80 per barrel, Newton sees lower prices ahead in the near term. "My thinking is we pull back down to $75 and potentially even $70 in the next few weeks," he said. "That could set up at least a shorter-term low."

Newton anticipates oil will remain in a range between $70 and $90 for the foreseeable future. "We still have a little bit further to go on the downside," he said. "If what everybody thinks is correct about those leading to better projections for earnings, I think that's a good thing for all of us."

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