What did oil do today? May 15, 2012

 

What did oil prices do today ? May 15, 2012

 

Today oil was on a downtrend all day and hit under $94 ( as of 3pm we were at $93.66 )

I’ve been starting a position in UCO (Bull oil ETF 2x) the past few days and been successful trading UCO & SCO off extended oil moves

You can see on the daily chart we are near the Dec/2011 and Feb/2012 lows which is also the VWAP area

Very close to support and good risk/reward setting up as long as we can hold over $93-$90

Enjoy,

Stockguy22

 

Posted in Blog, Crude Oil charts Tagged with: , ,