Fundamentals and Technicals Aligning?

[Delton Witte + 12]

Here are a couple of articles that outline where I think we are and where we are going. We are seeing the pull-back to setup the inverted head and shoulders mentioned here.

https://oilprice.com/Energy/Crude-Oil/Is-This-A-Buy-Signal-For-Crude-Oil-Futures.html

The next bullish move will likely come from development of the situation in Venezuela (or China talks, but I don't think so).

https://www.cnbc.com/2019/01/28/-venezuela-crisis-oils-ticking-time-bomb-to-detonate-analysts-say.html

[Cheah Ks + 1]

price will definitely go lower Venezuela needs money to restructuring its economy(96% depend on oil) so you can expect that i tmay increase it's supply rather than follow OPEC decission. PMI of most countries are in declining trend so there are strong possibilities that oil price may not go up.