Nymex crude oil futures prices are in a strong uptrend and just recently hit a 3.5-year high. The next upside target for the pulls is solid resistance at the $70.00 level. “The trend is your friend” in the marketplace, and the path of least resistance for oil prices will remain sideways to higher, until a significantly bearish technical clue develops. With raw commodity sector leader crude oil trending higher, many other raw commodity markets are also being helped out by oil’s updraft. Stay tuned!
