LastBattle
Long

CORRECTIVE WAVE SHOULD GET WTI UP TO $62~70

FX:USOIL   Crude Oil (WTI)
I believe that oil             have bottomed in the short term time-frame as evidenced from the triple lower lows made since January 2015. $45, $42 and $37. RSI divergence is seen for every lows made, with higher highs.
WTI should start moving up from here, back to as high as $62 and beyond. $70 is well within the reach in this corrective wave, a 50% retracement from $107 highs in 2014.
As a bonus, we can discount Iran from having their sanctions lifted since they're still so keen to work against the U.S.

However looking at the larger time-frame, it is almost certain that some time in the future it will get as low as $16~32 with the trend since 1998 broken. Oil             have been largely overpriced for the past few years, it will get way more underpriced first before any equilibrium is seen.
snapshot


commodity short squeeze is on...
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