Manipulation and ultimate doom for shortsRight now, it is very obvious that oil is not trading with anything else, e.g. inverse to USD, or anything else.
Just judging by the fact that it ran to $50 a few days ago and dropped to $44 on the same day tells me that oil price is very much being controlled by MMs. The volume tells me that they are accumulating and trading as many shares on these oil ETFs as possible before they let it slowly creep up and set off in a multi-month rebound period from which their current holdings will appreciate substantially.
The period of rebound will take months but the direction will be a gradual upward movement just like HOD after oil lost steam, the reason I said shorts will get burned real bad is because most of them will trade in denial and keep their shorting position even while the trend changes before their eyes.