Oil Coming Up for a Second Crash?

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.