NYMEX:CL1! LIGHT CRUDE OIL FUTURES
Using $42.50 as a support level, a bounce off that level would be considered , but if prices fail to hold, a return to $37.50 seems probable. This implies a negative 200 day cross, which suffice it to say, would be a return to the int term trend. This, in concert with a low energy demand season approaching and several refiner outages expected in coming months, which would imply further inventory builds to already record levels.