I'm still short crude. It dropped down to my first target area (85.00) - expecting a further drop to the 82-80 area.
Although I have also kept close watch on the seasonal chart, it hasn't been much help. This chart is king. "Follow the money".
I was also expecting a re-adjustment of the Brent premium, but it just ain't happening. A lot of stories out there right now about Crude. Especially since everyone is betting on $100.00 plus in the near term.
The chart is tel;ling a different story.