May 28
Moby Waller submits:
As everyone knows, crude oil prices have been rocketing higher. It seems inevitable to me at this point that we will hit $150/barrel on the futures. Often when everybody guesses and discusses that a stock or index will hit a key round-number level, it becomes a self-fulfilling prophecy in a way. The sentiment and speculative aspects of market prices will drive that security to that key level.
On that note, examine the long-term Crude Oil Futures Cash (CL1600) monthly chart (click to enlarge image):
Complete Story » …
