look at daily charts of xom, sun, oih, vlo

Discussion in 'Trading' started by LT701, May 21, 2008.

  1. LT701


    all evening star candle patterns

    does it suggest an oil top?

    also, $gaso broke a trading range of 1.4 to 2.4, then ran to 3.4

  2. Not necessarily oil, but it's likely the related equities are putting in a top.

  3. cszulc


    I find that XOM always tends to pull back at these 95+ levels.

    I sold the 90/95 June call spread for $3.45 today before the FOMC minutes, to find it worth $2.80 at the close. Looking for target of $1.00 on this to buy back.