Crude Oil Hits New High

Ho hum another day in the crude oil market.

Crude oil came out of the gate before the NYMEX floor open and took a run at $140, it came close with a intra day high of $139.89.

The NYMEX session was choppy until a nice run down in the afternoon. It's days like this that reinforce the , hold no directional biases, theory for day trading.

You wait for a direction to form, then a trend in that direction, and finally momentum in the trend direction for an entry.

Pre market move (click on chart to view)

Afternoon short move

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