False oil recovery

Oil could not break the 50$ barrier and seems more headed to a downward movement. If this pattern completes, it may go soon to 40$ and below.
Fundamentals don't seem to be helping either.

Komentarz:

Fakeout and dump. I believe that if we keep going down it will take more than a year to recover. We have just reached the support established by the 2009 bottom.