The break back below $59.96-84 warned of heavier pressure, likely down toward $51.00 (-). We have seen $9.42 of this so far, taking out $51.00 this AM. Decent trade above $52.18 (-3 tics per/hour starting at 9:00am) will put this above a steep formation that will warn of decent short covering; but if we break above here decently and back below decently, look for decent renewed pressure to come in. NOTE: This is just a small portion of the market calls I provide my clients twice daily in the Crude, and across the North American and European Energy spectrum. If you are interested please feel free to contact me.
Comments