Thursday, October 22, 2009

Thursday Oil Market Round-Up


A.) Prices have moved through upside resistance on strong volume.




A.) Prices print a strong bar on high volume. Prices move through the 10, 20 and 50 day EMA

B.) Prices consolidate gains around the EMAs

C.) Prices gap higher. Note that although prices are printing spinning tops the gaps between them indicates there is strong demand pulling prices higher.

D.) Prices continue to move higher on stronger bars and higher volume. Prices have also moved through the 200 day EMA.