Crude: Dangerous situation

NYMEX:CL1!   Light Crude Oil Futures
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For sure we need to expect at least some kind of technical correction in Crude. BUT if we do not get a higher high a Head and Shoulders pattern should be expected to develop targeting the 30 Region... Last COT Data are some bit of meaningless since commercials were on hold due to elections. Next week should tell us a bit more.
Comment: Huups, was veteran's day and COT Data will be published Monday... Let's have a look!
SA oil minister just met with others and plan to have OPEC meeting Nov 21 instead, he realized how serious the situation is, they read the charts :-)
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