Thursday, February 18, 2010

Thursday Oil Market Round-Up

First, let's start with a general "you are here" observation. Since the end of last summer, prices have been moving between ~34 and 41. In essence, prices are moving more sideways than up and/or down.

Here's a closer look at the last 6 months. The main point is prices are moving between two points.

Note the similarities and the differences between points A and B. First, note the nearly mirror image of the EMAs. However, with point B prices are moving more to the right/sideways than up.