Traders Await FOMC Announcement

On December 18, 2013 by TradingDesk

Overnight trading has been a little like the night before Christmas as traders eagerly await the FOMC announcement this afternoon. Yesterday’s API report showed small draws in product stocks which has helped keep RBOB and ULSD modestly in the green so far.

Technical indicators remain stuck in neutral and refined products remain stuck in their trading ranges as a result.

The DOE report will be released at its normal time today, and then will be released on Friday for the next two weeks. If the FED doesn’t make a move today, it seems like prices are poised to limp into year end.

CLICK HERE for a PDF of today’s chart

Market Update

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