Closed this short again today with my target reached at 29.70, this afternoon. The prior two API builds have served as short-covering signals. Typically, we've seen the futures trade down in the immediate after-hours of the build release, followed by short-covering on the European open and later throughout the following day. With support holding at 29.50 and two back-to-back >6% declines, I think the possibility for a technical short-covering rally is pretty high. I'll be sitting flat, waiting for directionality for the next move. I'll look to re-enter short below 29.24 and b/w 30.75-31.00.
