Will gas prices spike before Nov. 2, or just after?

[JPJones]

[ClintonTyree]

1. After.............

of course. We wouldn't want anything in the financial sector to jeopardize Bush's coronation now would we?

[liberal N proud]

2. Oil = $50/Barrel

[LiberalCat]

3. After

Gas prices here dropped to there lowest during the Republican Convention. They were ten cents lower than the lowest price since last spring. They will drop a week before the election, than spike after the election to make up the loss.

[Zynx]

4. I don't know, prices are coming up awfully fast right now.

[newportdadde]

5. Its in a rising price channel.

Well its definately in a rising price channel even if you take it out to a weekly based chart for 3 years. You can see in the daily chart for 6 months it pulled back last time and found nice support at its 50 day moving average. It looks abit like a double top but I'm not sure about that as it is breaking out above the other top.

Its RSI is getting close to oversold but its not there yet, this thing could legs for awhile might make it a little farther into the 50s... 52/53 then pull back some. It could come down quite hard in the next month back to its 50 day moving average if it does pull back again.

Key here really is gasoline inventories.. or actually if they want to fix the price... remember back in May gas was this high on something like 43 bucks a barrell yet when we blew past that a month ago prices actually went DOWN. So its hard to say there is a lot of minipulation there as in all stocks but especially in futures etc.

[JPJones]

6. Welcome to DU

Are you a Chartist for Change?

I'm not able to follow your technical analysis, but the drop in oil inventories looks out of whack.