Friday, March 30, 2012

Oil is getting ready for a decent move

For those that are watching Gas Prices...the Brent Crude Futures are exhibiting a Cup an Handle pattern.  If they break out to the upside look for a rise back to the all time high in the upper $140's which would mean average Gas Prices in the US would rise well above the $4 level by the Fall.  Meanwhile if Brent Crude takes out the bottom of the Handle which is around $120 then a decent drop back to $100 will occur with Gas Prices dropping on average around 50 to 60 cents per gallon. 

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