Things are so volitile now with crude. Waiting to see how things work out in Venezuela. I'm sure others are too.
Nonetheless, I agree. According to the charts, crude is overbought. Might cause a sudden turn down, if it crosses the trendline.
News from Monday:
US Crude oil inventories:
|May 01, 2019||10:30||2.093M||5.479M|
|Apr 24, 2019||10:30||5.479M||1.255M||-1.396M|
|Apr 17, 2019||10:30||-1.396M||-1.200M||7.029M|
|Apr 10, 2019||10:30||7.029M||2.294M||7.238M|
|Apr 03, 2019||10:30||7.238M||-0.425M||2.800M|
|Mar 27, 2019||10:30||2.800M||-1.100M||-9.589M|
Weekly US ending stocks of crude oil.
Weekly ending stocks for unleaded gasoline.
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).
Current gas prices: