Commodity Broker Carley Garner and CNBC's Jim Cramer Analyze Crude Oil Futures
"Charts suggest the ‘mother of all buying opportunities’ for oil is coming next month." - Jim Cramer, Mad Money on CNBC
The crude oil market and Thanksgiving have a tumultuous relationship. Unfortunately, we discovered this the hard way. Some of the largest, and most devastating to complacent traders attempting to enjoy their holiday, sell-offs occur on or about Thanksgiving day. Last year we saw oil futures fall $10.00 in the Friday trading session after Thanksgiving. Luckily, this was a half day, or who knows what the damage might have been. In 2018, oil dropped 10% on Thanksgiving week, and in 2014 oil dropped just under 14% on the shortened trading week.