Oil Has Found a Bottom at $83 Per Barrel

Unless we have a recession, oil has found a bottom at $83 per barrel.  Take a look at the chart on the Money Velocity page of Fibonacci-Stocks.com to see the recent flat bottom of oil's price in the $80 range.  The looming European embargo of oil from Iran has put a bottom under oil.

In this current scenario, ERX, a  leveraged oil ETF, is the best way to make money.  It is selling for $36 per share now, and it could go to more than $50 per share in the next couple of months.  That would be a gain of almost 50%.