Might make a spike towards $50, but regardless this is a good place to start shorting or to buy out-of-the-money puts for August 2016 at around 45-47. I'm not too bothered about not having a stop loss on my DWTI and CL options here...
Oil isn't going anywhere..
Net long position near record highs
Weakening Chinese demand
Short squeeze is done
Frackers aren't dead yet, the battle for marketshare between Saudi, US, and Russia continues.
Is Dennis Gartman finally bullish of oil? LOL
Most importantly, mainstream media collectively are now bullish of oil despite the fact that fundamentals have not changed. The only thing that's changed is the sentiment of the market participants
Some work for the bulls... recapture 49.1 in the next few hours or die.