Oil has experienced a mild break in the uptrend started at the end of Sep. '11. On top, both the 10
and 25 day m/a's have rolled over with oil struggling to get back above them near term. I have
argued that geopolitics involving Iran make it tough to have a trading edge here, and I have recently
reminded that we are in a strongly positive seasonal period for oil. Even so, keep an eye out
because there is short term technical damage underway. $WTIC
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