The Lastest Outlook on Oil

From Pragmatic Capitalist - Oil is overbrought and will be heading down.

Stephen Schork, editor of the Schork Report and one of the finest oil traders around, latest report is still very bearish as the fundamentals still don’t seem aligned with the technicals.

Conculsion by Pragmatic - we could see some stabilization in the oil market as the market simply appears a bit overdone on the downside after a near 20% drop in short order. This could provide some near-term stability in the weeks ahead, but don’t be surprised when the fundamentals reassert themselves later in the summer.