Similar pattern showing up

٢٣ مايو ٢٠١٧

I am not calling for oil armageddon, BUT there are certain similarities to what happened for the large drop a while back. To the shorter Term analysis I do think a lot of the price movement for a positive note out of OPEC have been priced in. I cannot imagine a sustained rally coming from that announcement without a 5-8% drop first.

Hope this helps anyone out