The oil "fall out"

Black gold isn't immune

Oil is falling hard today. We outlined our bearish logic on oil last week in our thematic email "What if oil is falling out" (here), and we stick with the non consensus view. It is falling below the trend line that has been in place since early December as well as taking out the 50 day. Note we are trading at the 100 day moving average here. A lot of broken dreams today...