The weekly chart is still very bullish. The MACD and RSI are still rising. Prices are still advancing and have moved through all the EMAs. The 10 and 20 week EMA are both moving higher and the shorter EMA is above the longer EMA.
On the daily chart the situation is still mostly bullish with one caveat: the MACD is about to give a sell signal. Aside from that prices are still moving higher and and currently consolidating in a bull market pennant pattern. The RSI is pegged at a high level, but has been for some time. All the EMAs are moving higher and the shorter are above the longer. Prices are using the EMAs for technical support.
Let's look at the fundamental side.
Oil stocks are high but decreasing
Gas demand is increasing an d
that is leading to an increase in gas prices.
