Doom takes time, and the market will not just go down vertically :D
I think we've had enough for this round... It'll be a good time to squeeze some shorts accumulated since the start of June before going into $20 oil .
To reduce the risk of contango, RIG and SDRL would be a good bet on the bounce too.
SDRL - possible 20% more to go.
RIG is currently near 1994' support.
if this channel holds through i project to see 33-34 which i did 5 months ago, i have people in oil room telling me, that channel is not valid.. which is why i answer YES
2 touches at resistance, and only 1 touches at support, hence i need another touch on channel support to Verify this channel ^_^
oh if this breaks loose,
that will be 22-24
ultimately we need at least i wick/beard from below for long ^_^