Why can oil go down to $50?

The fundamental oil situation has changed suddenly and quickly. Last year's history of oversupply suddenly changed to a shortage of oil. This raises the question of whether there is a surplus on raw materials and is not oil too expensive?
Instability in Nigeria, the 30-year minimum in Venezuela's production, and the agreement between OPEC and Russia, led oil near the psychological level of $70 a barrel.
By the end of last week, however, the big speculators hold just under 660,000 net long oil contracts, or the biggest bullish position in the history of oil futures. This should definitely be a serious "alarm signal" for investors.
Whom will these big investors sell their oil futures? And how this sale will affect the price of the raw material?
Unbinding this big position may be the main reason for the price depreciation of oil to $50 a barrel or about 20% of its current levels.
And while there are bullish traders who think we are at the beginning of a new epic billush oil cycle, the situation may be far different, and we will soon see oil falling to 50 dollars.