What goes up must come down

Hello oil traders! I have been sitting watching this for a while and I cannot make heads or tails of it. In all honesty, there is not enough good "long term" news to drive prices higher. Yes OPEC is making steeper cuts, but analysts say that may not be enough to sustain higher prices. EIA weekly data still says we are something like 3% higher inventories on the 5 year average. I believe the analysts have been dead wrong in 8 out of the 9 past weeks. So what is driving prices higher? Manipulation? Maybe. But what goes up must come down. We have seen 7 + straight days of gains followed by Friday's half-hearted attempt at a correction. If you look at the daily chart, Stoch RSI and money flow are both heading down and we have had the longest run in a while. I am guessing that over the next 3-5 days we will see a correcting of some kind. I believe we will see it return to $58 level first, level of and then possibly move towards $52 support level. Trade carefully and let's make some money before Christmas!

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