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Jun 28, 2013 5:11 PM

Crude Oil WTI over-supply Short

Crude Oil Futures (Aug 2013)NYMEX

Description

Crude Oil has retraced to an interesting Fib level from the last pivot low (92.67) and is currently trading close to the upward sloping median line and downward sloping upper parallel. The market could start a sharp sell off next week. 96.50 would be my entry point with target 91.50. 'Voices' that the market is over supplied. Weekly chart snapshot here
A video from the Commodity week in Dubai to make it more interesting marketing.platts.com/content/ACEM201306-commodity-week-dubai?mvr=vancw&sf449684=1
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