November 08-2013
THE MORE IT MOVES, THE LESS IT MOVES— The daily price of an OPEC barrel (above) continues to be erratic and to dance around. But it dances around in a fairly narrow range with one week’s rise canceling out the previous week’s fall. With the end of the year approaching, we have replaced the usual monthly average chart with an ANNUAL average chart (below). As can readily be seen, the price remains at an historic high and at a steady level for three years running. In other words, the more it moves above, the less it moves below.
