November 16, 2017
It seems that crude oil ran into some resistance at the highest level of the year when the energy commodity reached $57.92 per barrel on the December NYMEX crude oil contract on November 8. In my latest piece for Seeking Alpha, I explain why long crude oil has become a crowded trade with bullish and bearish factors at play, how chances of a price shock to the upside have increased, and why $50 is still a sweet spot for NYMEX light sweet crude oil.
Article: Crude Oil Runs Into Resistance
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