Crude oil had a weird week. The breakout attempt that began last week failed. But crude looks ready to take a run at overhead resistance again.
- If crude can break out to the upside, then get above other overhead resistance at 75, it could go to 90.
- If crude fails and breaks down, I think it could quickly go to 60.
What’s your bet? Mine is higher. I’ve added to the IEO position in Red-Hot Commodity ETFs and I recommended a small-cap Canadian oil fields services stock in Red-Hot Global Small-Caps.
More on this topic
(What's this?)
“The One Stock You Must Buy Before Gas Prices Soar”
(Stock Gumshoe, 9/10/09)
“The Illinois Project could make you 455%”
(Stock Gumshoe, 9/30/09)
Canada's Best Bakken Stock
(Energy and Capital, 10/6/09)
When it comes to Oil and Gas MLP’s, Three is Better than One
(Investment U, 8/6/09)
Related posts:
- Chart of Crude Oil — Bullish! As promised to Red-Hot Commodity ETFs subscribers, here is a...
- Is Oil Breaking Out? Check Out This Chart There is bullish news for oil prices today from the...
- 3 ETF Charts — Double Gold, Agriculture and Nat Gas As promised, here are three charts of ETFs I’ve recommended...
- Where Will the US dollar Go Next? Is the US dollar in rally mode, or is this...
- Chart of Gold and Oil Gold used to track crude oil pretty closely, and both...
{ 2 comments… read them below or add one }
Excellent site, keep up the good work
Thanks, Bill. Please stop by again.