Thursday, December 31, 2009

Thursday Oil Market Round-Up

A.) Oil prices have rebounded since mid-December. They have risen through the EMAs to hit upside resistance at the 200 day EMA. Also note the 10, 20 and 50 day EMAs are moving higher with the 10 day EMA moving through the 20 and 50 day EMA.

B.) The MACD has given a buy signal, but

C.) The A/D line has not increased indicating that we have not seen a significant influx of new traders yet.