Weak corrective move
Comment:
In any way, low 50s is achievable in the summer, to make another lower high at least
Comment:
Essentially, the reflation wave then implies sharp moves up while in between prolonged consolidation
Comment:
First upleg was 4 months Feb 2016-May 2016, followed by many months now of consolidation in a range
Comment:
47 was reclaimed which is good
Comment:
Solid uptick today
Comment:
Working quite nicely. Lets see next week with Opec and Iran
Comment:
Net spec positioning is neutral, has been cut down significantly
