Crude Oil's largest price jump and reasons for the jump

Yesterday crude oil jumped nearly $11 to close at $138.54 marking the largest ever increase.
Some of the key factors that contributed to this price jump:

* US unemployment at 5.5% was highest in TWENTY years. What about the second half recovery?- Weaker Dollar

* Trichet says ECB will raise interest rates as early as next month. So, forget about Europe following US in cutting rates. - Weaker Dollar

* Morgan Stanley analyst- Ole Slorer comes out with a $150 price target by July- Oil spike

* Israel's transport minister saying an attack on Iran was 'unavoidable'- Oil Spike

* Workers at Chevron in Nigeria strike affecting supplies- Oil Spike

* Most of the analysts were expecting oil to head to $100 just a couple of days back and had to jump back in oil. Haha these analysts and speculators- Oil Spike


Now the TA part:
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* $DXY- US dollar spot price hit the upper bollinger band on Thursday morning- whenever it hits the upper BB, the Dollar reverses.

* USO- US Oil fund hit the bottom trendline on Wednesday. Deeply oversold

* All commodity related stocks right at the Trendline.


Thumb Rules on Oil relationships:
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* Dollar is inversely proportional to the Price of Oil

* Reduction/disruption of supplies directly proportional to Price of Oil

* Increase in demand directly proportional to Price of Oil

* Global recession fears points to lower demand so lower Price of Oil

* But Recession fears in US mean weaker dollar and hence higher Price of Oil

* Financial problems in US mean weaker dollar and hence higher Price of Oil

* Expectation of second half economic recovery means higher Price of Oil

* Bernanke keeping Interest rates low-weaker Dollar- higher Price of Oil

* India and other emerging economies reducing subsidies, making price of oil higher for consumers in those countries-lesser demand- lower Price of Oil

I firmly believe in Technical analysis and its impact on future movement. So, picked up a lot of commodity names to enjoy this new ride.

Some of the best setups out there are:
IPI- Agriculture
X - Steel
PDO- Oil
ROYL- Oil and Gas
EWZ- Brazil
USO- US Oil Fund
BZP-Oil

Do you have any good stocks to share ?