Trades,
Thanks for the chart.
A few of the bloggers I follow are suggesting that you should go long, or stay long this market - but your chart, and my P&F chart are suggesting otherwise. One of the arguments they advance concerns the "seasonal" trade. Well.....it ain't happening here - that's for sure.
Tomorrow's inventory #'s might give us a better picture to work from , but I'll bet that Oil is headed lower.
It's been trading in a channel since the end of February - some are calling it a bull flag - but I have serious doubts about that.
The key here is the breaking trend line from September and the weakening trend line of the RSI. This is enough to convince me.
The trouble is that this market is so manipulated - a sudden spike could trash a short position.

Time will tell....

Thanks for the analysis!