Got another strong signal today for a gap down in the market. When I look at oil, Brent crude oil is a better gauge of worldwide demand than NYMEX, so it is understandable that we rallied so strongly because Brent did selloff about 2%, much more than NYMEX. I actually think oil will keep going higher short term because we've received oil bearish news over the past couple of days and it didn't do too much to the oil price.
Oil is in a very ignitable position right now. I don't think we've seen the end of this oil rally on this runup.
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