Trader's Daily Notebook: Watch Oil's 10-Day Moving Average to See If It Goes Lower

There's been quite a bit of interest in frequent updates on light crude oil futures, so I thought I'd start by posting an updated daily chart, and make sure everyone saw the bullish reversal that triggered beneath $45 during Friday's session.

Light Crude Oil Futures -- Daily Chart
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The reversal happened late Thursday night during the Globex session, when liquidity is at its lowest, and frankly, when nearly no one was watching. Though not identifiable on the daily chart above, crude broke beneath $45 and tested $43.65 within the span of seven minutes. Three to four hours later, the contract was back above $45....601 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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