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uempel wrote:A move higher here would be quite impressive - so long as the index stays high into the close and of course into the weekend.
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Hi Uempel,
Is there any case on your chart that this trend broken and prices break above those circle? If there is, what does it shows? strong uptrend after that?
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Oil It is inventory report time after the close today and again tomorrow mid day. The media has been doing a great job of telling us what a good job OPEC is doing of reaching their goals. They are saying very little about world wide demand. We know US demand is worst in several years. So it is pretty much a given that inventory keeps building. The unknown is what is the level when the specs start to panic. Oh, and last week the pros said the US production figure was based on a formula so this week we may get an actual number which could show a surge in shale production. If price starts to drop stand by for a special news bulletin from the Middle East all about the next phase of the cuts.