May 9, 2016
David Gurwitz returns for our new weekly show. Dr. Charles Nenner is calling for crude to move to around $56. To quote their latest missive, "We often wonder how the big guys at Goldman get away with predicting that Crude was going to go below 20 this year, together with so many other prominent market forecasters... Oil could drop below $20 US a barrel as the search for a level that brings supply and demand back into balance makes prices even more volatile"
"We called the high at 97 and then the low - first at 30 and then later adjusted to 26."
A close below 42.90 will give a short term sell signal from longs
So let's follow this call and see where it winds up.