Well, it’s clear that the U.S. government schlepping to Saudi Arabia to plead for them to turn on the oil spigots has done absolutely no good at all.
The push high continues apace. I’d say we’ve got pretty strong resistance in the $100-$102 zone.
Looking at the longer-term, by way of the crude oil continuous contract, my view is that this counter-trend bounce is very close to being done.
