Justiceisfalse

Strong for now but COT rolling over

NYMEX:CL1!   Light Crude Oil Futures
78 0 1
I think we could see a push to the 62-63 level then cool off.

The large specs that have been pushing this market up have appeared to start cooling off this week. http://snalaska.com/cot/current/charts/CL.png

Is this a meaningful return of the CL             market or just a huge short cover/mean reversion trade? The fundamentals remain to be in the massive over supply camp and econ-101 would suggest we get another price dump as whatever supply is laying around will come on stream with higher prices.

No position.
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