Wednesday, November 18, 2009

Crude Oil Futures

Crude Oil Futures Daily Chart

The daily chart is giving a buy signal. Looks like it has broken out of the falling flag pattern. Some say the price is going up due to rising demand (better economy) while others say that it is due to reduced maximum production. The only thing I see is that it is a bull since April 2009.

Disclosure: Long in USO-C1

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