OIL update. WE are seeing signs of a overall pullback
This pullback has been slow coming but believe it will be welcomed when you see pump prices move back down. Gasoline prices are synthetic tax on Americans, a tax which is very hard to take when your retirement is evaporating. IF you remember back a few days ago i posted a chart of DUG (link here at originally posted June 4 at a trading price of 16 pps Chart.ly) the chart exhibited a very distinct pattern of breaking out to the upside of a descending wedge after a period of consolidation. The green line has been broken by the PPS to the upside. I am looking for a small pull back or straight shot up next week and into July. THis was a good trade if anyone played it take some profits and keep on truckin.