Hopefully that chart performs better than the grammar and punctuation in the explanation. A chart is worthless in this circumstance anyway. Oil is trading not in the fundamentals of supply, demand and production but producer's "smack" talking of the market upwards. Oil is going into the low 40's and will pull back as soon as the Sunni petro states loose their ability to frustrate shipments out of Shi'ite Iran. It is the lack of Iranian oil that was expected by now that allows for the market to move upwards with this jaw-boning bearish talk from major producers.