Crude oil will rise sharply to all time new high in the next several weeks
Sam Adelton
Jun. 17, 2007

The crude oil chart is showing signs of extreme bullishness. The oil can make new highs this summer in the next several weeks. The bullish pattern comes from inadequate oil reserves and refinery capacity in North America. On top of that the Chinese and Indian reserves are all time low.

According to analytics crude can jump and test the high of the last year. How far it can go is just a speculation. On the bullish side, some are expecting crude oil to test $100 a barrel. But the bears calls for $50 or less price per barrel.

Market sentiment analytics point to a rise of 48% in the number of bears on crude oil. That is bullish and should at least take the market to test the 80s.

Crude oil will rise sharply to all time new high in the next several weeks
Sam Adelton
The crude oil chart is showing signs of extreme bullishness. The oil can make new highs this summer in the next several weeks. The bullish pattern comes from inadequate oil reserves and refinery capacity in North America.
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