Aug. 23, 2013
Looking For a Major Move in Oil
Crude is up $1.74 at $106.77.And Aug. 30, 2013 with WTI at $107.66.
Our medium term mental map is a fake-out shake-out, i.e. higher to suck in some buying and then a 10-15% drop, back under $100.
There is a lot of oil sloshing around and Asia isn't going to be needing it for a while....MORE
And today: $106.10 last, +1.70. With today's breakout above what had been resistance at $105 things are looking up for the bulls
Here's the action over the last year, like the Germans in 1940, for a while things were looking so good...
There's no decline to be seen, watch the series of higher lows for a timing clue.
