Crude Slugs Its Way to $117.50

Crude oil pushed more than $5 higher from Tuesday's lows before retracing back to the $116 area.
The daily chart (above) is showing more and more signs of a bottom and a consolidation. With lower prices, demand has begun to increase again, and that's why inventories dropped unexpectedly over the past week. We're buying more gasoline at these prices, folks!