increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 – Fast reverse line – support: 25 4H chart, daily chart 3/8 – Lower trading range – resistance: 34,38, 1/8 – Fast reverse line – support: 28,13, 0/8 – Hardest line to fall below – support: 25,01 , -1/8 Oversold line – support: 21,89, 2/8 minimum of scale – support: 18,77 Moving average EMA200: 4H chart – 34,38 – resistance Harmonics pattern: monthly chart – end of reversal zone 16,62 minimum from 1998 – spot price about 10 , real price (inflation adjusted) 14-15