A few days ago I said oil prices would probably be locked into the $50-$60 trading range the next few months. After reviewing some insider trading activity, another push to the downside may be in the works.
Insider Trades
In addition to the above trades, Colin Twiggs from incrediblecharts.com weighs in with these observations about oil;
"Crude oil prices have broken the downward trendline at $60, signaling that the trend is slowing. At present this remains a bear market rally -- unless there is a rise above $65."
