CLZ2014 contract - the bear trend started in July/Aug 2014 with a very well defined HS formation. We have reached the 1st target objective in early September. Market is currently consolidating at 90-92 level and preparing for the next move down. I'm considering and early short entry before the market takes out the 22 Sept pivot low. Targeting 87.00 ($/bbl). Funds have reduced the net long positions by approx 35% since early July2014. Only a trade above 93.50 would confirm a change of trend but this scenario seems less probable. l
