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Oil and SPH Acting Intuitively, and Inversely for a Change. Will it Last?


The recovery rally in NYMEX Crude Oil has hit my optimal target zone of $97.30/50.

However, as of yet, it has shown no sign of reversal, which might be a sign that it still has some unfinished business on the upside.

If that is the case, then $98.30/50 is my next recovery target prior to my expectation of a resumption of dominant trend weakness.

In either case, this is the area from which I want to be ProShares UltraShort DJ-UBS Crude Oil (SCO) in preparation for another downleg that points crude towards $85.00-$88.00.

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