Crude Oil Rebounds With Best Week Since July

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Dec. 9 (Bloomberg) -- Bloomberg's Scarlet Fu and Bloomberg Tradebook’s Greg Bender, put oil futures in focus in "On The Markets" on Bloomberg Television's "In The Loop."

Considerations and long-term considerations when you look at the s chart.

We had a classic bear trap about which happens when you get below a certain level of and it can only stay down there for a day or two to and then immediately rally back up.

We will the catching a lot of short-term traders short.

Now in the january futures, we're back above the 200 day moving average.

A long-term trend line that we had been back above for a while.

A bear trend line with trades is what to watch.

Does that mean that the short-term traders are changing their positions as well?

They can have the ability to move in and out pretty quickly.

They put on their most bullish bets than july.

These are being driven by data questions, and the better- than-expected data we have been getting.

We had the jobs number on friday, and some better data coming out of china, which is driving some changes as well.

How much are people paying attention to speeches by the fed president?

There seems to be no change in the tapering until next year.

The traders i'm talking to seem to indicate that in the oil markets and energy markets that the taper is already built and.

The question is looking back toward the iconic numbers -- economic numbers.

If you have some called positive follow-through, that will not hurt either.

The big news was the opening of the southern leg of the keystone i played.

It caused a shift, why is that?

It was the timing of that.

That combined with the good economic data, plus we had an oversold market coming off of that bear trap that we talked about.

We had some short covering, and some good news from the market.

Give us a preview of this week, what are traders watching?

Commodity markets right now are seeing a little bit of a shift.

It is a good week not just in energy, but also natural gas.

We had a good week in metals last week, the commodity industries are starting to turn up a little bit, and specific to crude oil, people will watch many dollars of where we are right now.

That low two weeks ago, about that, we are looking at an upmarket.

Thank you so much.

That doesn't for on the markets -- does it for are the markets.

"market makers

This text has been automatically generated. It may not be 100% accurate.

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