Crude Oil, Is There A Top?

Posted by Bull Bear Trader | 5/06/2008 08:12:00 AM | , | 0 comments »

Crude oil futures contracts are trading above $120 a barrel. Meanwhile, Goldman Sachs is stating the oil may incur a "super-spike" and reach $150-$200 a barrel over the next 6 to 24 months as growth in supply fails to keep pace with increased international demand, especially demand from developing nations. The moves in both crude oil and natural gas should be interesting to watch over the next few months as we enter the summer driving season. The effects of the dollar, which recently staged a short-term mini-rally before giving back some gains, should also be watched.