Crude Oil Pennant Formation Daily Chart 06-20-08

Discussion in 'Technical Analysis' started by Aaron Copland, Jun 21, 2008.

  1. Everyone is call a top and that this is a bubble, it went parabolic. What everyone won't say is "could we be running ourt of oil"

    I think we are, commodity prices use to be transitory, supply and demand kept things in check.

    Never has a commodity gone up and stayed up for such a long period of time. The market is telling us something!
  2. Another bubble call in Barrons.
  3. PaulRon


    aaron, just my opinion but i think we're still overbought and can see a false breakout before collapse (20+ fall)
  4. empee


    oil -> $150-$160 next

    but sure looks toppy, I'm thinking one more squeeze. If not there then 180-$200
    then maybe sharp reversal. still too many ppl shorting crude

    it ain't gonna be that easy
  5. Wow don't mess with the up trend.
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  6. agree 100%