With fast money flows dominating so many other markets at the moment it is no surprise that it was oil's turn. WTI held $42.60 a barrel support before leaping to $45.70; Brent climbed above $46.00. $42.60 is now the line in the sand for technical traders.
Expect Asia to open in a similarly optimistic fashion today. Going forward, we can expect more of this intra-day volatility over the next two weeks. Driven by fast money "will they, wont they" headline trading. Traders should make sure their seat belts are very securely fastened and their tray tables stowed, for the November 30th turbulence ahead.