Oil backed off sharply in Friday's session after roll-over short support diminished at the close of the overnight session. We were short sellers at 92.25. We were covered on the close at 90.15. Oil is still over-valued at current levels.
For the rest of this column of commodity futures trading recommendations, go to independent trader Al Martin's website Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. He is considered to be a source of independent analysis for financially sophisticated and market savvy investors, as well as subscribers who want to understand the behind the scenes working of markets worldwide.
Check out Al Martin's website Insider Intelligence which provides weekly commodity futures trading recommendations.