re: crude oil - double top?
The news wires are trying to scare traders long oil stocks into selling their shares because they say nymex sweet crude may form a double top. Well have a look at the chart for sept delivery and see that a double top has formed but the pattern looks to be break to the upside and should've already started falling if the dbl top prediction was correct.
http://quotes.ino.com/chart/?s=NYMEX_CLU4&v=d3
My 2cents is that POO is going to $45.00 short term due to IRAQ/Russia problems and China's record demand. Another dead give away that oil is going up is that COT reports show the "big boys" are long oil futures and they are the smart money. I think we go higher in OSH, it's just about being patient. Good trading
OSH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
