Has oil hit the top
The oil has reached an all time high in the last few days. But are these high prices here to stay or is this just another craze that’s going to evaporate in few days. 
Well the oil has been going up since December 1998 when the barrel traded around USD 10.35, the lowest point since April 1986 of around USD 9.75 a barrel. The new prices of USD 80 has been hard for many to swallow and the world is wondering if this is going to continue or if this is the top.
When looking at the slow stochastic (SSTO), the indications are mixed. They daily chart shows an overbought state in the Oil market and as such we should start to see some lower or more stable prices the next few days. On the other hand, when looking 
at the monthly chart, the SSTO is in the upper part of the indicator, but not showing signs of being overbought.
From this I estimate that the Oil market will slow down on the prices the next few days, but in the long term, we’re looking at higher prices. How high I can not say, but they will be going higher. So if you’re looking for a new car, look for a hybrid.
