Hello oil traders! Finally seeing oil creeping back into the lower channel wedge to hopefully stay in consolidation for a little while longer. Will it stay? Only time will tell. I am expecting oil to return to $56 range before going any lower. I am also only expecting dramatic world news to affect any major movement before the end of the year. At this point I can't say which way it will go, but because demand worldwide is waning and with the climate change fanatics preaching against the evils of carbon-based fuels, I can only expect that prices will eventually fall. However, if you want to hedge your bet on oil for a nice long term gain, keep your eye on Aramco's IPO and when it hits the market, buy some. Aramco is the most profitable company in the world, raking in $111B in profits last year. That's more than most companies are worth. Have a great weekend!