Why is gas at $4.00 per gallon?

Market Pulse: February 20

This past week April 2013 RBOB opened at $3.2520 and closed the week at $3.3138. That’s a $2,595.60 move for the week. Not bad if you were long like we are. So what are the charts telling us? 

On the daily chart, ADX is at 85 reflecting an extreme strong trend. MACD has dropped a bit of divergence but remains bullish, and Stochastics are in deep overbought territory.  Just look at the rise since the beginning of 2013. On the weekly chart ADX is at 56, a very strong weekly trend.

Proceed to Page 2 for the latest COT Data...

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