Weak corrective move
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In any way, low 50s is achievable in the summer, to make another lower high at least
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Essentially, the reflation wave then implies sharp moves up while in between prolonged consolidation
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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
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Solid uptick today
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Working quite nicely. Lets see next week with Opec and Iran
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Net spec positioning is neutral, has been cut down significantly
