Consider this. Analyst projected an oil inventory in the range of 600k barrels. The actual number was around 4.9 Million!!! This isn’t just a tad off, or a smidge wrong, this is so far off it makes you wonder what all those analysts are doing all day? With such a bearish report it makes sense that Crude falls through the floor boards and has smashed to new lows? Au Contraire Mon Frere. After a brief plunge, oil snapped back up and moved to the green on the day as shown in the intra-day chart below. If this isn’t indicative of a rotation and change of character I don’t know what is.