Energy markets are trading a bit softer today. Again, we have a very low volume day as prices were pushed substantially higher yesterday into key resistance levels. Prices have rallied to the upper ranges of resistance. The trade has been very thin, yet price charts don’t know that. This price action is of further importance as we edge closer to going off the cliff. Most of us would believe energy price will fall if we go over the cliff. A stronger Chinese economy counters Washington’s decisions and perhaps supports the higher trade.
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