WTI is +1500bps premium verse the point of control. At critical points of the trend 1/1 GANN is drawn.
Notice the 8-22-16 GANN price remains below (bearish) GANN 1/1, but above 8-03-16 Blue (Bullish) GANN 1/1. This will produce a BARR formation bump and run until a notable reverse is completed < Blue GANN 1/1. Physical market continues oversupply. For more analysis on oil visit: stockboardasset.com/category/oilreport/