Well today OPEC increased production for the first time in two years. Pretty bearish fundemental news and it was good for a 50 cent selloff after the announcement. Then it went right back up. It seems CL is moving more on Gold and Dollar correlation rather than on the underlying fundementals. I do sense that shorting the 80 mark would be a nice trade even if its just a scalp. Everything hinges on the rate cut now or lack thereoff and Ben isn't really being transparent and giving guidence despite all his talk of transparency. I hope CL blasts past $80 going into the fed meeting so that Ben understands that if he wants to inflate his way out of a minor recession - we could have $100 CL really soon, fundementals notwithstanding.