Oil Coming Up for a Second Crash?

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From CME:

Soaring Oil Inventories: Prices Heading for a Second Collapse?

Oil inventories have spiked on bargain-buying and storing by investors expecting prices to rebound strongly.
Pace of summer driving crucial to whether inventories will deplete or if prices could crash again.
The number of miles driven has to rise 4-5% year on year to support prices amid such high stocks.
Strong demand for oil as refiners take advantage of wide crack spreads and ramp up gasoline output.
Oil production continues to grow, albeit more slowly, despite low prices and falling rig counts.

Full article on CME
http://www.cmegroup.com/education/featured-reports/oil-set-to-fall-after-summer-driving-season.html

Gold: $1000 ahead? Looking at the technical charts, Gold breaking below $1150 support was a significant move which pushed the bearish impulse for the yellow metal. Perry maintains a bearish target at $1000 in the coming months, but expects the psychological level to support gold prices from dipping further.

I think oil will not cost lower. In my opinion Goal now is $60 ($55) no more - no less.

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