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Some considerations to start the week. The short term: crude and distillate ended last week beneath their lower bollinger bands (daily). RBOB was pressing. The longer term: we have crude and RBOB threatening their 200 week moving averages. Any bounce this week and we will have to quickly assess whether we are looking at temporary relief for a minor overextended condition or more significant bottoming action. also consider, any further downside to start the week will have us testing more critical levels and push these markets into a more overextended short term condition. Suggest caution for both bears and bulls.
I will be on vacation from this afternoon, returning 29th July. ( If Microsoft allows my flight to take place. )
My flight schedule is why this weekly report was released so early in the day. I apologize for any confusion
I will be on vacation from this afternoon, returning 29th July. ( If Microsoft allows my flight to take place. )
My flight schedule is why this weekly report was released so early in the day. I apologize for any confusion
I will be on vacation from this afternoon, returning 29th July. ( If Microsoft allows my flight to take place. )
My flight schedule is why this weekly report was released so early in the day. I apologize for any confusion
In Monday's webcast I had cited all the little head and shoulders top patterns mentioned in tghis report. So this report is the follow up to Monday's webcast.
This is not a chart of the day report in the sense of having importance for tomorrow.
This is a seasonal cycle outlook, of importance for the next few months