Expect to see a volatile week in the oil markets.
Based upon the options market, it is expected to see a $5 move in either direction this week. The present situation is mirroring one that took place in natural gas. That saw a short squeeze which pushed prices higher as the shorts had to cover.
In the oil market, we could see something similar with the shorts being pushed out. Another option is that oil prices pull back in spite of the options market to the $60 level.
Click on imge to read full article.