Fox Business notes some good points about gas - notably the spring seasonal strength.
Note that monstrous seasonal strength tailwind is now gone. Chart via Equity Clock
It appears we're seeing a blow-off here with Wednesday's bearish engulfing day occurring just above the 200D MA. The signs we're seeing from the energy space seem to reflect this being a meaningful high area that won't be breached for some time. Maybe i'm just hopeful :)
Trade 'em well!
No comments:
Post a Comment