RE:5 months of Oil fighting $82 resistance..I agree Small captdr. It seems that oil rallies overnight and then the US markets push it down once they open. It is certainly not acting like it is under the normal supply-demand theory like most markets. Hard to convince myself that there is a 15 - 20 percent variability in demand week to week. This is acting much more like an orchastrated manipulation - some folk are making buckets of money selling short or otherwise manipulating not only the price of oil, but also individual oil stocks. Until this activity (or if this activity) fnally peters out the longs aren't going to see any consistent direction in the oil market.
I always find it curious that within a few days of some of the talking heads suggesting that the price of oil will go to over $100 the price of oil reverses back into the low 70's or high 60's then rince and repeat.
At present this is hardly "investing" more like a cr#p shoot
GLTA
Rusty