Okay, Oil is sticking its' head up into my resistance area.

Cycles still align in June, but Oil has been running in a 6 week cycle in this advance of which we are at right now.

A spike above $40.00/CLM should be monitored for a peak and subsequent 3-5 week and potentially 3-6 month high.

The Wig has spoken. ;-)

wig, the warning up here on the retail side is high retail prices until the end of summer, a short break in the fall, followed by continued high prices in the fall and winter heating seasons. There is no forecast that I have seen that shows oil prices dropping.

Now would be a good time to start looking for those "oil related" stocks, and also for the exploration companies and such in North America, as $40 barrels makes drilling wells a good idea again.

Alex

Hey Alex,

I will respect your opinion on the fundamentals you have provided as a cause and effect reason for firm Oil prices.

However, I do not use fundamentals nor do I think there is a need to when taking on the tricky task of anticipating market action.

I will say that althought I believe we have reached a resistance area for Crude in both price and time, any sell off from here is only a correction in an overall bull market.

We shall see. ;-)

Thanks Wig
I'll keep an eye on it

RawAlex - as far as fundamentals I surprised you're not taking the path of oil prices dropping post July as the Saudis could drop prices to help keep GW in office (and then squeeze us later)