Friday, July 24, 2009

Daily Oil Prices From Master The Markets

The positive correlation between the price of crude and equity markets continues apace with the Dow finally breaching and holding above the 9000 level for the first time since January. This mutual admiration seems determined to ignore the weak oil market fundamentals which has seen gasoline and distillate stocks in the US increasing for a straight sixth week and with unemployment in the US still rising it is difficult to see how quickly this surplus is likely to be consumed. From a technical perspective yesterday's candle on the daily oil prices chart.....Complete Story

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