If you have followed these energy updates over the last few days you will have seen our analysis that got us in at the bottom of the channel and has produced great gains.

Unleaded gas has moved to the top of the channel and crude has also moved higher at a slower rate.

The question now in unleaded gas is:

Are we set for new highs or is a pullback on the cards?

The factor under pinning prices is the geo political situation with Iran who increased the stakes with veiled threats to use oil as a weapon against intervention in its nuclear program.

Keep in mind, these markets are driven by emotion at this moment and it