Nymex crude oil futures remain in a solid price uptrend, even though the market has paused this week. Bulls remain in firm overall near-term technical control and there have been no near-term chart developments that would suggest prices have hit a top. However, it’s still my bias, based upon supply and demand fundamentals in the world at present, that oil prices cannot sustain levels much above $60.00 a barrel, if even that. Stay tuned!–Jim
