Oil futures continued to trade lower after data from Baker Hughes BHI, -0.87% showed that the number of active U.S. rigs drilling for crude fell by 10 to 362 as of Friday. Meanwhile, the total U.S. rig count fell 14 to 450, which is another record low. May crude CLK6, -3.81% was at $36.90 a barrel on the New York Mercantile Exchange, down $1.44, or 3.8%. It traded at $36.80 before the data.
Gold and miners are reacting to this news
LABU update
Still very early in this trade 57 million shares traded That’s the biggest volume in its history on Thursday on an up day. That’s a good sign. Watch the declining topsline, and later resistance at the 30 range, it could very well run up to 34 very quickly, and then it will really take off.
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