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CLK2015 Oil Needs to Get Above 54

CLK2015 Oil Needs to Get Above 54

Crude Oil WTI NYMEX:CLK2015

Oil needs to get up to and through 54 - and then 55 - before bulls can start feeling more confident. The sell-off Wednesday continued Thursday on lesser volume but the decline from 54 [edit typo] looks like a pullback to me and not an impulsive move. So let's see if buyers come in Friday; I'm not sure it can happen. But I'm bullish and think oil will be higher in 18 months so I'm waiting to see the move up and through 54.