Contrarian Takeaway: Prices in the Out-Months, the
Candlesticks, and the Indicators Suggest a Screeching Halt to the Rise in Crude Oil Prices

post from Jutia GroupJutia Group on 11 May 2008 08:49:49 PM. © Jutia GroupJutia Group

Since March 17, Gold has declined nearly 13%. So much for the ?inflation hedge? hypothesis. Whatever happened to the ?inevitability of $2,000 Gold because the fundamentals require it?? Proponents are noticeably quiet these days. Is Crude Oil headed for $200 per barrel? Maybe so; but maybe not quite yet.

As in the case of Gold, there is no shortage of fundamental reasons why the price of Crude Oil must increase. What do those who are ?on the inside,? doing the actual trading with real money, think about the future price of crude oil? Yesterday?s closing prices of the crude oil futures contracts…

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