#trading #oil #commodities – Crude now beginning its move back up to $60?

I think Crude is now gaining bullish momentum and will potentially breakout above $39 heading towards its next major resistance of $45 before heading on up towards $60.  Will it happen? And so what?

If it does, this could be an economic game changer.  It will affect inflation and thus interest rates and the cost of loans and the housing market. If it doesn’t, expect a retracement to prior resistance levels of $33.5 to $34.

Keep your eyes open and trade what you see.