
MacroVoices #335 David Hay: Why US Energy Prices Can Rise Even In Recession
Macro Voices
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Crud Oil Prices - The Biggest Build in the Oil Market?
The us. Market opened at nine a m all of a sudden the selling began, took us right back down and fully retraced that entire opeck move up before inventory even came out. Overnight, as soon as we got even before the us. Opened, around six or seven in the morning, new york time, the selling resumed and took us well below the 200 day contract moving average. That took us down to retest the july fourteenth lows but completely different tape action. The opposite of that happened on wed Wednesday. We had retraced to the upside all the way back. It'll be interesting to see whether it can get back above that number
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