Crude Oil Spikes?

Discussion in 'Commodity Futures' started by Vienna, Nov 1, 2007.

  1. Vienna


    My Volume bar chart shows spikes from 93 to 94 at 9:54 and the same a few minutes later. That is a $1000 per contract move in 20 seconds or so... on 10:30 it shows a $2000 spike. Is this common, is it a charting problem or what?

  2. It's not common, but it has been happening with greater frequency at these elevated price levels. The 10:30 move yesterday was off of inventories, so there was a catalyst for that one, but crude is prone to quick reversals and has been crazy volatile lately with prices as high as they are.
  3. Surdo


    Outside of EIA data releases or Middle East BS, Crude rarely moves a buck in a minute, yes it has been much more volatile lately, but there were no such moves today on either of my chart vendors.

    e s
  4. Vienna


    Thank you guys,

    could this be an esignal issue, or is it connected to having volume bar charts?
  5. That may have been a result of using a volume chart because there was very light, thin volume on some very outsized moves.

  6. Are you on QM or CL? I have noticed some bad data lately with Esignal for volume too while doing some system testing.
  7. Vienna


    CL Z7
    Will probably trade the QM... dont like these spikes, needless aggravation
  8. I like trading the QM..I have never had any problems trading this contract. I have included a 5 minute chart of the QM today so you can see how the day played out on this contract.
  9. Surdo


    My 60 and 90 minute are starting to count down a SELL signal, I am currently flat.
    I would look to start selling above $95....then sell $97.

    It's about time this nuclear waste is tradeable short.

    e s