$65.00 in Store for Crude Oil?

By Candy Matheson of Strawberry Blonde's Market Summary

Blogger & Retired Russell 2000 E-mini Futures Day Trader • Jul 31, 2017 at 4:11 AM EDT

If price can rally and hold above 55.00, we could see a retest of 65.00 in short order...a pop and hold above 50.00 is, however, the first order of the day.

My WAG -- IF price can rally and hold above 55.00, we could see a retest of 65.00 in short order...a pop and hold above 50.00 is, however, the first order of the day -- see the Monthly chart below of Crude Oil.

My gut currently favours the long side...of course, I'm not always right, so do your own due diligence.

(Click on image to enlarge)

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