Off To A Quiet Start…

On April 24, 2012 by TradingDesk

We’re off to a quiet start, product prices have had only a 2 cent range so far, as Europe takes a sigh of relief after successful bond auctions overnight. The day’s schedule is filled with economic data points, and it seems like traders are content to wait and see how those turn out before making a move, and many may simply stay on the sidelines until tomorrow’s FED announcement.

RBOB pulled back from the brink yet again yesterday, after touching a new low for the month, and staged a late rally, relieving its oversold technical condition. WTI and HO managed to bounce off of support levels as well, and remain near the middle of their trading ranges. The Iranian Oil minister said that damage was avoided in the cyber-attack on their main oil terminal, which has helped pushed Brent crude into the red today.

CLICK HERE for a PDF of this morning’s charts

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