Oil Inventories Deliver, As Indices Tread Water

It was commodities which have delivered some explosive price action over the last few days as strong moves in the US dollar have helped to propel related markets. And during the futures trading session it was oil that moved driven higher by the weekly oil inventories whilst the US indices traded in a narrow range once again. The indicators in focus were very much the accumulation and distribution indicator which describes levels of support and resistance clearly, and more importantly their relative strength. The volume point of control was also much in evidence in sideways markets, with the volatility indicator as always delivering clear signals of impending congestion phases and reversals.