Option Investor
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Crude continues its trek upward and is now trading over $52.00/bl. I am waiting for either the March 26th high or the April 1st low to break before I take a position in this market.

The daily chart looks to be making a wedge but we will have to wait for the end of day before we and draw it. I don't like wedges or at least drawing them because they are too subjective and rely too much on the technicians eye and on the charting platform you use. However they do serve a purpose in telling you if the bulls or the bears are winning and in the case of a wedge that neither are.

I still think the probabilities are with the bulls and that the March 26th high will break before the April 1st low.

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