WTI Roadmap May 2017
Updated
Weak corrective move
Note
In any way, low 50s is achievable in the summer, to make another lower high at leastNote
Essentially, the reflation wave then implies sharp moves up while in between prolonged consolidationNote
First upleg was 4 months Feb 2016-May 2016, followed by many months now of consolidation in a rangeNote
47 was reclaimed which is goodNote
Solid uptick todayNote
Working quite nicely. Lets see next week with Opec and IranNote
Net spec positioning is neutral, has been cut down significantly
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