Albeit a small sample size, the public has spoken and they believe oil will trade higher over the next month. My polls have an uncanny success rate, so please don’t bet against them. Need I remind you that this is not MSN money, so don’t make that mistake.
If oil can crack $54, things will get fun for the bulls as we begin to enter thin pockets of air above. However, one more pullback down to $48 may be necessary, which will create a perfect little inverse head and shoulders heading into the summer driving season.
Below $48, and I will admit defeat. Top idea continues to be oil.