Tuesday, May 22, 2007

Gasoline Price

The price of gasoline has been an important inflation
driver in the US this year. Ostensibly, supply has been
constrained by a series of spot refinery outages. The
futures contract price for gasoline is juicily volatile
and, interestingly, is looking overbought, with an MACD
near the top of the scale and with yr/yr price momentum
high but past a recent peak. Check $GASO.

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