Thursday Oil Market Round-Up

A.) Note that oil prices are in a downward sloping channel. This is in fact a good development. Oil (and other commodities) helped to lead the rally. When they broke their upward trend line there was concern that prices would drop hard and fast. But right now they are moving slowly down. In addition,




Notice the incredibly tight range of prices and EMAs. This tells us the market is conflicted about overall direction.

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