OIL - watch this carefully

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