As predicted, WTI crude prices have continued to dive, touching just below $30 per barrel intraday. We are satisfied with these returns and are closing out our short positions with nearly 100% profit. In fact, we now feel this market is heavily oversold and are looking to reposition to the long side. A correction to the upside should take WTI back up over $40/barrel within the next several months. Slowing production, coupled with an escalation of the Iran/Saudi Arabia situation could break WTI to well over $60/barrel and beyond within that same timeframe. With strong technical and fundamental indicators, we are predicting a short to medium term increase in volatility and feel highly confident that long positions at this level will prove to be highly profitable.

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