Im not brave enough to make a useless call at this stage, the amount of experts having a go is what's making investors get burnt, from ultra bearish to bullish.
At this point there are too many factors to play out, US bankruptcies, iran and iraq ramp in production, etc etc
It will all come to play 2nd half of 2016 or starting 2017, we can't be producing 2mil in barrels above per demand each day. Something is breaking now due to the price
Right now the best indicators are the 26 day moving averages (kinju) on the graph. Brent has been pulled back to this line consistantly for the best part of 2 years, if it overshoots like friday. It always gets dragged back.
Safest plays are shorting the overshooting rallies. The kinju is saying it must trade below 3189 as we speak.
Im not brave enough to make a useless call at this stage, the...
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