Recent trade: short at $56.41. Current $55.95. Goal: $52-$53 and may reconsider later to $45-$48

Fundamentals are bad: Market balance is not for today there is way too much inventories and daily output for now

Market Momentum calms down: overreaction to positive news + no more “story” from OPEC to keep feeding them. Buying hype will fad. Kind of contrarian stand (see also huge increase in long position from COT –> sell indicator when raising too high & too quick)

Big players: not so much short left, so no crazy spike to come due to short covering + lot of hedging at those levels (see future curve)

Technicals for short: indicators in overbought territories (Bollinger & RSI)