FX & CFD trading involves significant risk
May light sweet crude oil futures hold around $107.98 per barrel after trading in a $107.58 to $108.78 range. Friday, the front contract broke above the 30-month high of $106.95, seen March 7, to post a new 30-motnh high ($108.05 after hours high). The break of the $106.95 trend highs on crude means that the way is now open to the 76.4% Fibonacci retracement (of the downtrend from the life-time highs at $147.27 and the December 2008 low of $32.40) near $120.
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