I first discussed a bearish crude oil scenario on October 7th of last year. At the time, oil was still trading above the 74.00 handle. By the end of 2018, the market was testing the 2017 low near 42.50. It was the most aggressive selloff for oil since the middle of 2015. But since carving a multi-year low on Christmas Eve, crude has bounced back. However, the price action over the last six weeks appears to be corrective. In other words, it’s consolidation following the recent three-month selloff. That means the next short opportunity may not be far away. The wedge pattern you see below can be drawn on either the ... (full story)