Could be. Maybe the 83 call from last week is in the cards here by tomorrow. Hammered down that rally attempt just now. Stay tuned. Trying to base here or hold this level - one or the other.
no his paw prints are all over the chart, so far it looks like its only the little bear no point in getting to technical as I may lose most of you
http://af.reuters.com/article/energyOilNews/idAFN1431860020110214 Oil BULL factors ----------------- "Recent (WTI/Brent) divergence was furthered overnight as an expected renewed upswing in Cushing supplies is pushing the front WTI contango to new wide territory ... - while rising global equities, - economic news out of China and - underlying Middle East unrest are supporting April Brent values," Jim Ritterbusch, president at Ritterbusch & Associates in Galena, Illinois, wrote in a note. * Iranian security forces deployed in the streets of Tehran to prevent a planned opposition rally in solidarity with popular uprisings in Egypt and Tunisia that toppled their presidents, witnesses said. [ID:nLDE71D13Z] * Government backers armed with broken bottles, daggers and rocks chased down thousands of pro-reform demonstrators in Yemen's capital, turning unrest inspired by Egypt's uprising increasingly violent. [ID:nLDE71D12D] * China's crude oil imports in January rose 27 percent from a year-ago to the fourth highest on record, as refiners raised production and beefed up diesel inventories. [ID:nTOE64607F] BEAR factors --------------- * U.S. heating demand this week is expected to be 24.2 percent below normal, the National Weather Service forecast. Heating oil demand will average 22.3 percent below normal, while heating demand for natural gas will average 23.9 percent below normal, the NWS said. [ID:nSGE71D06C]
If the Gawd almighty goes along with my plan, we should see the small bears hanging out in the mid 82-ish and the large paws printed at 75.
One view is that , this bearishness today tomorrow may be MMs accumulation for week end 89 level given more bull factors than bear as I listed in above post.
Testing, testing, testing. Indices rally attempt lost steam too. All of them are trying to build a base including CL. BBIB