- NYMEX Crude Oil - Fri. May 29th -

Discussion in 'Commodity Futures' started by 12121212, May 29, 2009.

  1. 12121212


    Thursday May 28th, Crude Oil (July Contract) closed at $65.00. The overnight / after-hours trading moved it up to open 9amEST Friday May 29th at above $66.00. After the open Oil moved up to a high of $66.45 at 9:30am - where it quickly reversed and moved down to an intraday low of $65.55 at 10am. Friday afternoon saw Oil prices slowly meander between $65.80 and $66.40 until a SHARP move down at 1:45pm that saw Oil move from $66.00 to $65.20 in 15 minutes. Shortly thereafter, it rebounded back up to $66.40 before the close of $66.30 at 2:30pmEST.
  2. 12121212


    Crude Oil opened for North American trading at $67.85 at 9am (est). By 9:15am it had dropped to $67.32.
    Then, for several hours Oil traded very quietly and hovered between $67.20 and $68.10. . . . until a late afternoon ralley that saw Oil move up from $67.80 at 1:45pm to $68.70 just before the close at 2:30pm.
    Good action in the morning and late afternoon, the rest of the day was SLOW.
  3. craig


    Tell me something i dont know! like where you think its going to trade....

    I would like to see a rejection of the 70.00 level in the next couple of days myself, followed by selling back down to the 60.00 support level. I belive oil is way overbought at these levels but i will wait for the big boys to show me where to go!
  4. there's so many people waiting for that $70 mark, it might not get there. however, moving above the 200 day MA might keep this rally going a little longer. who knows? that's why i like straddles :D