Will Oil’s Upward Trend Hold?

Last week, I suggested a trade that bracketed crude, going long on a break above $70 or short should CL drop below $67. That worked out well as a break above $70 was followed by a surge to over $73. I made good money on that and I hope you did too, but now we have fallen back again, are in mid-channel once more, and I find myself looking around for inspiration. I make a living by having opinions, both as a trader and as a writer, so it is not often that I give in and say I don’t know where a market is headed. That, however, is the case with…