RE:The hype is over, oil is going down I agree with you....Oil should retreat on so many fronts....But as we encountered recently how Saudi news release about further talks between OPEC members about concerns over the drastic oil slump.....
I expect that another release will prove to be perfectly structured to limit the downside......Very difficult to follow the volatility.....
I'm thinking that they will soon provide us with another article that will push oil back towards $48+.....
I'm on the sidelines on oil and prefer playing USD short at $1.33-$1.3325 with expectations that the rate hike is slowly loosing steam.....and if another Saudi release indicates that they are indeed planning a sitdown with the idea of calming other OPEC suppliers oil will also support a lower USD....