claydoctor
Long

updating oil chart

NYMEX:CL1!   Light Crude Oil Futures
222 1 3
Looks like the major resistance is $31. Note the rises and falls % in this pattern, and the descending wedge channel. Not a classic double bottom , and that is why we may have to revisit the previous low exactly one more time.
Saudis will not give Iran a break in oil, all the chatter of freezing output fails. 26 here we come, s&P stays correlated, Gold is the place to be, for now, when we see 26, we will check it all again.
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