maccabean
Long

Crude oil is consolidating and most likely to spike upwards

NYMEX:CL1!   Light Crude Oil Futures
I think crude has overshot fair value and is now oversold. It is below the linear regression (ie Trading range) and CCI is creeping upwards. I would make this call with more confidence should the MACD crossover occur with more enthusiasm but I'm getting in before the market does. Of course the moving averages are against us, but if we see Europe start to gain just a little traction, I think oil             could rise again quickly to about 85 -90.
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