I have recently suggested investors consider taking some profits in the crude oil market, but prices in the low 80’s price range has not stopped the commodity from continuing its ascent. Crude oil is hitting new historic highs today above $88 per barrel. The contrarian in me prefers to buy weakness and sell strength, so even though the current rise could continue, I am not going to jump on the momentum train and suggest people pile into crude in the short term. Longer term, though, I think it is worth taking a look at what will ultimately dictate where oil prices go.To understand o[...]
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[Source: The Money Blogs]
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