VWAP closes @23.50, just 25cts above yesterday's price (+1.07%). Day high was 25.50, day low was 22.
The strong price rejection from 25.50 says a lot. The price has also been rallying on gap ups which has left a lot of voids between 9.50 and 23.50. This one will hurt a lot when the shaving is done... Those bid splits we have been seeing will now turn into ask splits (irrational selling).
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!