But Wait, There’s More

Futures were up as much as 6 points overnight, largely on a rebound in oil prices back above the SMA10 on a heels of a (perennially wrong) IEA forecast of higher prices to come.2016-08-11 CL 60 0610Oil’s gains should fade, however, as we head into the cash open.  There are other factors at work that indicate yesterday’s decline might not be finished.

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