There are some who pontificated that it was the price of crude oil (energy) that caused the current global recession. If so you would think that the subsequent collapse of crude oil prices would help move the economy back into the black.
What does this little crude oil rally mean for the economic outlook?
Is oil looking forward?
If so it ran to $147 with a blindfold on.
Is the current oil price just a reflection of a lower American dollar?
I have more questions than answers.
For whatever reason crude has come back to life over the past few days and has shown some decent intra day range. Decent compared to the YM's range that is. I am currently simming crude oil with the magic blue bars and caught a few nice trades today.
The YM had no signals and no trades.
5 Minute Crude Oil Chart
1 Minute Crude Oil Charts