Oil nears a major cyclical top - VectorVest

Dr. David Paul’s opinion about the oil market may come as a surprise for many out there who believe there is little is little reason for oil not to rally to $60 levels.

Paul says oil is near a major cyclical top, but still can go a little bit higher… as suggested by the ‘reverse divergence’ on the 4-hour chart.

Paul also talks about the ‘VectorVest Composite, which suggests the short-term trend in the market is bullish, while the long-term trend remains bearish.

Listen to the full segment to know Paul’s weekly trading system that is based on 20-MA and 40-MA. He presents an outlook for Ithaca IEA and Royal Dutch Shell B.

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