Trades with cats wrote:CL bounce catalyst- it is weekly inventory time but the after the close API number has been way off last couple of weeks so may have to wait for tomorrow's EIA report to generate a move.
I don't know about a bounce.
We have a break of the rectangle to the downside and within the triangle a double top.
(Of course they manipulate it so usually with a high inventory number - which should be negative for prices they manipulate it up.)
Didn't you post something about good numbers at Cushing?
It doesn't seem to have supported prices and Libya said they are increasing (or trying to increase?) their production
"Libya has the 10th-largest proven oil reserves of any country in the world."