Oil closed right at 10 day sma, 67.5725. There is risk to 66.60, but frankly, with hurricane season just getting into the worst month, I think long is still the way to go. I'm patiently waiting for another price drop to get in. If they throw in a cold winter forecast, heating oil buyers that waited for a price drop will be forced to buy, driving prices higher again.
This entry was posted
on Friday, September 02, 2005 at 10:31 AM.
