Monday, November 21, 2011

Late Session Crude Chart - Post Iran Headline (USO)

5 min cl ...

What a difference a few hours makes? We got a threatening crude supply headline out of europe concerning IRAN coupled a well timed buy program. This ='s party time for momentum chasing algo's and forced covering.. we are "well off the lows" with ES back at the 1195 metric after staying 1180's in the eye a few hours ago.. Crude took a seemingly endless nosedive into 95.24 only to race back to 97.47. When crude wants to move she will move, best to trade first and get out of the way of the trade or end up a hook ornament.

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