OIL - watch this carefully

13 Tem 2016

Watch the Next 50 cents very carefully. Oil needs to make lower lows and stay in the band.
Right now all forces are pointing South

• Oil continues to go down on high volume.
  
• MA 50 (Red line) is below MA 200 (Grey line)
  
• China is just starting to end it's massive strategic reserve buying
  
• Iran is doubling it's production
  
• US production has gone up
  
• Canadian stock is hitting the market again