Traders should be aware that volumes will stay relatively normal until the end of this coming week. Meaning that Oil may continue to see a sea of volatility this coming week. It is tough to stand in front a train and predict a change in direction.

With WTI now below 60.00 common sense says that at some point a foothold will be found in the energy sector, but why lose a million dollars trying to be the first one in and try to prove you can be the first on the block to be proven right, while it is much safer to allow Crude Oil to become tranquil through the work of others.

Crude Oil and the EUR have both been under a lot of pressure, but this has occurred because of fundamental reasons in both markets. Oil has proven that its availability and ease of finding the commodity has gotten to a point in which the U.S. now produces enough Crude Oil to deliver to its own public.

OPEC finds itself in the uncomfortable position of having a physical resource that can be supplied not only from its cartel but outside sources. In some respects Crude Oil has become a bit like coffee which came from places like Yemen and North Africa a thousand years ago, but has found a way to ‘grown’ trough out the world.

It doesn’t help, that although the results in equity markets makes this sound odd, that the world economy is still not stabilized completely and demand for Crude Oil is not showing signs of significant improvement.

So if you as a trader are continuing to bet that Crude Oil will soon rebound and you will become wealthy catching its price rebound, it might be wiser to wait, make yourself a cup of coffee with beans that could have been grown in a place like Vietnam.