Thursday, August 20, 2009

Bespoke, others speculate oil might break resistance and rally

Summer isn't really over - and usually a hurricane hitting US land causes seasonal increases in oil costs. However, this season was very mute... current oil price is very-very speculative. I expect it to touch and breach resistance, right before it crashes hard again. November prices should be consumer friendly IMHO.

Will Oil Break Out Or Fail At Resistance?

Cheers!

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