Dominate Your Market
by Jim Wyckoff
See on the daily bar chart for February Nymex crude oil futures that prices are trending higher and hit a contract high this week. Prices are also closing in on last fall’s seven-year high of $85.41. Bulls have technical power to suggest a challenge of the fall high in the near-term, or above. Rising crude oil prices are also a bullish element for the entire raw commodity sector, given that crude oil is its leader. Stay tuned—Jim Wyckoff
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