Although I believe in Crude Prices in the range of min. 140 USD, the current COT Data scare me to death.... 11 times more long at Managed Money and 21 % NetShort at Commercials rises the Question : Who's gonna buy it ? 40-50 range are reasonable Targets in my point of view. Also from Wykhoff view a retest of this range makes sense.
Long in the cycle 4 sure! I'm pretty certain a YCL has yet to print and have yet to see a 3 yr cycle Low in the larger super cycle. I'd guess we need to see sub 60 before moving over 80, but i'm no expert. Are you still short Darth ?