CRUDE OIL confirmed last night a strong closing above the top of the previous few session but it failed to remain above the 100 level for long.
The indicators of the daily chart are however still negative but those of the s/t ones are above the line supporting further s/t upside potential. In the hourly chart we have however already a negative reversal situation that could limit the upside favouring instead lower level suggesting a possible target at 96,39!!
We sold the CRUDE OIL this morning at 99,75 putting however a stop at 101.35. In case of an hourly closing below 99,30 we move the stop already to 100,55!
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http://www.easyforexnews.net/wp-content/uploads/2011/12/CRUDE-OIL-12.14.11.pdf
FUTURE TREND RESEARCH