Posted on May 7th, 2010 by navstock

Oil 30 min 11 May 2010

The charts for Oil work much the same as all the others. Time frame needs to be shorter due to the expiration of contracts. The long looks interesting but given the current financial environment it most likely will not go anywhere. I would take an exit @ 76 since we have fallen quite a bit. I do not see a huge run up. Came back to see and the 76 was hit on the next bar after entry. Later…  huge spike $1.5 bar that peaked at $76.87… you just never know but we were in the right spot.

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