RE:RE:RE:RE:Looks like I might be back earlyWell the long positions in brent oil went down alot last week and short interest picked up.
That is one thing that points too a downward trend in oil coming.
I mean how can anyone short oil right now...what does "the big money" know??
Todays drop of like 7 f*ckin dollars felt like traders have some kind news and some want out at all costs.
Likly China...if China's economy sputters will basically take out any oil demand growth...some traders could be speculating on China bad news is coming.
Binkie wrote: Interesting. Why do you think oil is more likely to go down?