Thursday, November 10, 2011

Oil's In the Middle of A Nice Rally

Oil has been in a nice little rally for a little over a month.  We've seen prices consolidate into the 10 day EMA, around the 50 day EMA and the 200 day EMA.  The MACD is positive and the smaller EMAs are all rising.  This could be a problem going forward for the economy as oil's choke-hold starts up again.
Posted by Hale Stewart at 11/10/2011 09:30:00 AM

2 comments:

Roy Forbes said...

November 8 article in L.A. Times cites continued increased petroleum consumption in developing countries and increased U.S. petroleum exports to South America as factors that have several industry analysts predicting $4.50/gal gasoline as early as April, 2012. That can't be good for any recovery.

November 10, 2011 at 1:56 PM
Anonymous said...

Definitely, something to watch, but I remember talk of $5 per gallon gas for this summer, which didnt turn out to be true.

November 10, 2011 at 7:04 PM

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