What happened in oil this morning?

Discussion in 'Commodity Futures' started by blange, Apr 17, 2009.

  1. blange


    Any ideas as to why crude spiked this morning?

    Also, are there any good blogs that follow/analyze oil and energy?
  2. JPope


    no idea about the crude, same thing happened in the natty, Id be interested in good energy blogs as well...
  3. the

  4. spd


    I was busy this morning and missed that spike and short opportunity coming back down :( not much going on since
  5. Check the DAILY chart of June crude & draw an uptrend line from the lows two months ago.

    It hits the support within 0.10.

    The bounce was technical in nature. I'd prefer to buy JUNE near 49.10...crude's staying firm ahead of summer driving season as products are finding a modest bid.

    It'll be fun trading this one! GL!