Trades,
Thanks for the chart. This market is all over the place right now. The geo-political situation is the main driver.
Libya is almost back to full production.
Nobody is buying Oil from Syria, whose storage facilities are bursting at the seams.
The US is pumping oil from N. Dakota and sending it down to the gulf in tankers ( new lines are being built). Each tanker
Inventory #'s from last week were way above estimates.
OPEC meets on Dec 14. They need to agree on new quotas - also agree to scale back production that was ramped up when Libya fell apart.
Everybody is waiting for the shoe to drop on Iran.
There is a glut of oil right now. But, price is dancing to the tune of a diifferent drummer.

The chart is telling me one thing, while all these events are hovering in the background. Makes me somewhat nervous.
Oil hardly moved at all today.

I am tempted to stand aside until the new year before getting back into this market. Good time for one of your strangles!!!

Thanks!