Wednesday, July 9, 2008

Bespoke's Commodity Snapshot

Here's a snippet and a couple of the charts, go to Bespoke for the other eight.
Even after oil's $8 pullback in two days, the long-term uptrend line for the commodity hasn't been tested. For oil to test the bottom of its uptrend, it needs to get down to the $132-$133 range. Until then, talk of a "bubble" bursting is pointless....