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Crude Ran the Race

Crude Ran the Race

Crude Oil WTI NYMEX:CLV2015

We saw an acceleration of buying above $47.00. It's safe to say a lot of shorts got shaken out of the market. Now we watch. We look for consolidation or a pullback to the $42 area. Will OPEC follow through with it's comments or will a rate hike send crude back down to the lows? It will be a tug of war and we are placing our bets on OPEC. We are seeking to get long on pullbacks BUT, with a tight leash.