Potential for a significant top in oil

Submitted By Gary Tanashian

Am I talking my book? Yes, because of my bearish bias on oil. But this weekly chart helps support the conclusion that a top of some decent measure is in the works. As I recall, the CoT's show commercials increasingly short and as we all know, the public expects $100 oil soon. I doubt they'll get it until way later in 2008 at the earliest.
October 18, 2007



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