Wednesday, September 23, 2009

WTI 9/23 Update





This morning, prior to the DOE inventory numbers, as the WTI chopped sideways, it really looked like a consolidation prior to popping to new highs.
This is a good example of how the market can require a  good old fashioned common sense perspective on the longer term. Sometimes fundamentals rule.
See  Rbob Provides Reality Check

 Since WTI has overlapped  both the Nov. and spot month "d", it is highly likely that a new low under the "A" will be forthcoming. That would be 67.11 for the spot month. And C=A at 65.00. 

No comments:

Post a Comment