About Crude's Drop On Friday

Short term crude is going to be under pressure based on Friday's price move, volume and the position of the -DI of the ADX. When it spikes up that high it generally means that particular trading instrument will move in the direction over the coming weeks.  Volume is quite large on the daily but the weekly puts this in perspective as it barely registers over the 60 week moving average.

When looking at the longer term weekly chart we can see some potential targets with the uprising trend-line, around the $90 level. The long term is bullish therefore there is some risk if one was to short this. The safer trade would be to wait for this to correct and then take a long trade at support.