A Cheap Way to Play Higher Oil

Crude oil futures have spent the last several months confined to a well-defined trading channel. The recent dip in prices has brought the market to trendline support near $43.00 per barrel. Knowing that oil prices can get messy, we somewhat expect a continued probe to the $42.00-ish level. But in the big picture, we see upside potential in this market. In fact, we think a return to the $50 level is likely.

In addition to supportive charts, seasonal tendencies call for late-June and early-July strength in crude oil. Also, speculators who came into last week "too long" have liquidated a good percentage of their bullish holdings....239 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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