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Where Does Oil Go from Here?
Posted on May 12, 2008
As oil prices top $125 and take other energy prices higher, where do oil prices go from here? Crudeoil appears to be overbought in the short term but sentiment doesn tseem to be at a bullish extreme, indicating that there may be moreupside in black gold. However, oil does seem to be extended relative toother commodities.Fast money is in a natural gas crowded shortA look at the CFTC commitment of traders datashows two different faces of sentiment in the energy complex. Whilenatural gas prices are nowhere near their all-time highs, largespeculators (read: hedge funds) are showing record levels...
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