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OPEC Time

OPEC Time

Crude Oil WTI NYMEX:CLF2016

Oil is still selling off in-front the OPEC meeting this Friday. We are flat and staying away until after the meeting. At this point we think it tests the August lows, but if doesn't and OPEC has a bullish tone then we will see a massive spike. WARNING: DO NOT TRY TO GUESS THE DIRECTION BEFORE THE MEETING. That's gambling at best. For us to get long we will need to see price trade above the 43.50 area or see price much much lower.