A.) Since late December there have been 4 gaps higher in the oil market.
B.) The EMA picture is turning decidedly bullish: the 10, 20 and 50 day EMA are moving higher, the 10 day EMA has crossed over the 20, 50 and 200 day EMA, the 20 day EMA has crossed over the 50 day EMA and the 10, 20 and 50 day EMA are moving higher.
C.) Volume has been increasing for the last week+.
The 10 day chart shows some more detail
A.) Prices have gapped higher three times in the last 10 days.
B.) After gapping higher, prices consolidated in an 80 cents range.
C.) After gapping higher prices again consolidated in a narrow (60 cents) range.
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.