Wait to short at 49.60 its overbought right but I suspect oil will want to touch the trend line before rig count which I suspect will increase since shall producers have locked in contracts in 50s till 2020s..I can see oil going back to low 40s this summer based on record breaking U.S oil production pressuring OPEC producers to protect market share.The OPEC deal will be pointless if oil goes back to the 40s and Saudi isn't going to keep just giving up its market share.Iraqi has tons of production growth potential and I expect them to grown production another 500k conservatively in the next two years.