Please remember there is the report due out on Thursday at 11:00am and 1:00pm Eastern Time at www.eia.gov/petroleum/supply/weekly/
I predict there will be enough supply to slow down or stop the bulls because CNBC(if you agree with their people commenting on their show) that the US has been releasing more supply to meet the demand recently. If this is true, then the oil price will fall tomorrow. If not, then sit back and enjoy the show. Watch it go up and wait for the fall in the short term because either way, this smells like a short term bear trap to me.
I predict there will be enough supply to slow down or stop the bulls because CNBC(if you agree with their people commenting on their show) that the US has been releasing more supply to meet the demand recently. If this is true, then the oil price will fall tomorrow. If not, then sit back and enjoy the show. Watch it go up and wait for the fall in the short term because either way, this smells like a short term bear trap to me.