Oil

Here is a link to a post I wrote in 2010, whee  I showed that whenever the pace of change in CPI turned upwards from low levels, oil represented a good investment.

Recently, CPI turned as mentioned above.

 

The weekly chart of the April oil contract shows that there is already an uptrend and that the market is consolidating above the 105 support level.. This is no wonder with a strengthening economy and the current geopolitical tensions.

The next resistance to the upside is around 113.

On the daily chart there is a triangle that may be forming. The market may head down to 104 before breaking out to the upside.