The CRUDE OIL confirmed yesterday a weak closing last night but only a break below 95,00 confirmed by a daily closing will extend the drop. A recover above 98,70 will instead favour a recover probably even above the 100 level.
The indicators of the daily chart are at the line while those of the s/t ones are showing a mixed picture suggesting further consolidation.
In the s/t charts we have a potential double bottom but only a move above 98,70 will confirm the pattern favouring higher s/t levels, move that we still expect to be corrective. A break below 95,20 will instead resume the decline suggesting a s/t target at 92,86!
We suggest remaining short with a stop now at 98,90!
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http://www.easyforexnews.net/wp-content/uploads/2011/11/CRUDE-OIL-11.24.pdf
FUTURE TREND RESEARCH