Energy OverView April 8, 2015

Oil prices showed some curious strength, yesterday, with most participants looking for a rationale beyond there being more buyers than sellers. We flagged $52.50 as a key resistance point that, if broken, would induce furious short covering, which it did. There was some strong economic data in the form of the JOLTs report in the US, which showed the highest number of job openings in 14 years, and the dollar has seemingly stopped its advance, even reversing…