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Commodities Briefing - Categorized | Investment, Oil, Price Watch more

Upside for oil appears limited, but investments in oil markets aren’t

Posted on 20 February 2014

Oil prices have rallied back to the $100.00-per-barrel level on some near-term supply and inventory concerns. While the upside move is rewarding the buyers of oil stocks, I don’t think oil prices are set for an extended rally.
The chart of the West Texas Intermediate (WTI) crude oil shows oil prices bouncing higher after the formation of a bullish double bottom, based on my technical analysis. And while oil prices can head higher on the chart, I just don’t see any moves being sustainable………………………………………..Full Article: Source


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VRS - who has written 36685 posts on Opalesque Commodities Briefing.


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