Invest in crude oil. Is it time to cover your shorts?

We could see nice dramatic two-week slide in crude oil price. After reaching peak at $145 price is now down around 14%. Are we going to see further decline through $120, 110 . . . or even below $100 or rebound close to $150 as predicted by analysts from Goldman Sachs.



Adam Hewisons posts this interesting technical analysis for crude oil price. He suggests to cover your shorts. As $4 rise on Wednesday created similar (but inverse) pattern as before crude oil price started to decline on 15th of July.