WTI Roadmap May 2017

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Weak corrective move
Note
In any way, low 50s is achievable in the summer, to make another lower high at least
Note
Essentially, the reflation wave then implies sharp moves up while in between prolonged consolidation
Note
First upleg was 4 months Feb 2016-May 2016, followed by many months now of consolidation in a range
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47 was reclaimed which is good
Note
Solid uptick today
Note
Working quite nicely. Lets see next week with Opec and Iran
Note
Net spec positioning is neutral, has been cut down significantly

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