OIL update

oil april 30 2015

Oil has made it to $59.40 ( now on the June futures contract ), and that is pretty close to the $60 target. Where it goes from here is not perfectly clear but the one thing we do know is that, unlike the Fed. interest rate, it is not going to stay at this level for 6, or more, years. It will move either up or down. Our unsubstantiated bias is still to the downside.