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.