Dominate Your Market
by Jim Wyckoff
The Nymex crude oil futures market this week pushed above $120 a barrel. The market remains very bullish from a technical perspective, with no strong, early chart clues that a market top is close at hand. The next upside price objective for the powerful bulls is pushing prices above resistance at the March spike high of $130.50. Above that lies the all time high of $147.27 scored in 2008. New record highs scored in crude oil prices this summer cannot be ruled out. Stay tuned! —Jim Wyckoff
There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing on this website is intended to be a trading recommendation to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information on this website.