The general outlook is quite confusing. The daily and primary uptrend are still intact, nevertheless oscillators are not confirming last high. The today's volume was low and there are not many clues elsewhere.
In such setup it is the best to refrain from any transactions, until situation clarifies itself.
US stock markets did not look encouraging today (here).
However, S&P500 is still above the last low (ca.1020 from 2nd October) and primary uptrend is still intact.
An interesting paper on oil available resources (here).
Good analysis of moving average crossovers (here).
Sources:
[http://www.bloomberg.com/apps/news?pid=20601087&sid=aKuVVFkJXvso]
[http://marketsci.wordpress.com/2008/09/21/moving-average-crossovers-debunked]
[http://www.scientificamerican.com/article.cfm?id=squeezing-more-oil-edit-this]
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