API data released at 4.30pm EST on Tuesday show a "surprise" build, however, with expected weakness in hard data there should be no surprises. EIA data will either confirm or deny API's release.
Crude has reached and surpassed our expected target of $61.60 for a reversal. Look for weakness into the close of day today.
We can see slight higher highs from here, however, I expect to see a reversal somewhere between the current price and $61.60