Crude Oil at Critical Juncture

Crude oil futures are flirting with the 40 day moving average again, a point at which crude oil has seen violent price gyrations for the last two trading weeks. Should it be taken out and crude closes above $55 a barrel, we should see a vigorous rally to $74 (Next big resistance).

Why not? Europe can’t keep going into the tank forever, et al.

Regards,

Walt

Walter Otstott
Energies & Metals Markets
Dallas Commodity Company, Inc.
The Colonnade, Building III
15305 Dallas Parkway, Suite 930
Addison, Texas 75001
(972) 387-0080
(972) 387-0018, fax
(214) 537-9750, cell

walter@dallascommodity.com

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