A technical analysis look at the trend in the price of crude oil in 3 time frames.
Not too many weeks ago, I noticed that the price of a gallon of regular, unleaded gasoline at a convenience store pump on North Broadway in Boulder was the lowest I'd seen in the better part of quite some time. I had to look twice: $1.99 a gallon -- did I see that correctly? Indeed.
So I buy 10 gallons a few weeks ago and it costs me $19.90, right? I buy 10 gallons today and it costs me $25.90? So, I decided to take a look at the oil price charts and see what's been going on. Sure enough, it's been getting more and more expensive to fuel up -- not just in Boulder, but globally.West Texas Intermediate crude oil price chart, daily.Similar to the pattern seen in the stock market, the late December low marked the bottom and it's been up, up and away since then.
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