NYMEX:CLF2016 LIGHT CRUDE OIL FUTURES
This was the week of laid eggs. OPEC showed it no longer has any control. The oil production number was leaked earl in the day on Friday and basically said they will not curb production. With the current glut of oil , further production spells further trouble for oil . How far can she go? We think oil could flirt with the $30 area. At this point all pullbacks will be shorted this week.