WTI Crude Oil: Shorts Need Stops Above 100
CommodityOnline | Dec 24, 2013 04:59AM ET
WTI Crude unable to beat last week's high at 9940/49 & sank back to our first target of 9865/60. Below 9850 keeps the market under pressure for 9820/15. If we continue lower look for good support at 9775/70 for a buying opportunity.
Resistance at 9915 could hold a move higher, but above here look for a selling opportunity at 9940/60. However, shorts need stops above 100. Go with a break higher for 100.50/60 & perhaps 100.95/101.00.
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