Jerry Welch, Commodity Insite, an Introducting Broker with Straits Financial Friday, Observations Friday, July 18, 2014
ENERGY COMPLEX: Crude oil prices have been soaring upward over the past four days due to a larger than expected decline in supplies and continued turmoil in the Mideast. Crude posted an upside key reversal on Tuesday and has since rallied $5 a barrel. But as good as the market appears, unless futures can rise and close over $107, the current rally is likely to fail