User 153975

Oil Up $6 to $104

Actually, oil is still in an uptrend if you look at a chart with a longer time span. The chart shown in the article portrays a short term correction in a long term uptrend. China stopped buying most commodities because they wanted to reduce pollution for the Olympics by idling industrial production. Now that the Olympics and Paralympics are over, they may resume buying commodities, especially crude oil. I am looking for opportunities to get long oil and short airlines, casinos, etc.