Ann: Colorado Operational Update, page-44

And down today after Saudi says no cut.

5D Front month futures followed by 5Y chart





What do the charts imply?

Long term that range of low $80 and high $115 seems to have be smashed and the price is searching for a low to rebase itself??? May the "next phase" is that the $70 lows of 2010 are our new highs and the lows are yet to be made? That's my guess

Short term - maybe a breather at $55 as while the price came down by 3% in didn't come crashing down by 10%.