Oil Likely to Fall From Range Top and Crowded Longs

Too high of speculative interest on the logn side, and current trend structure, points to a decline into the $47 area. This trade has been become very crowded, and when too many people are long a decline typically follows.

Near $47 it then likely becomes a buying opportunity again, assuming a buy signal occurs.

A high peculative long positon is not a sell signal in itself. It just shows when something may be overheated. If the price starts to drop off the top of the range that will provide confirmation that the price is likely heading lower.