Light Sweet Crude
The CL had a bearish week, but has stopped at the $95 level, an area we have as support. Because of this, we are buyers between here and $90. If $90 gives way as support – this would be a massive trend changing event. Unless that happens, we are buying the dips.
Brent
Brent continues to fall, and then rise again. As you can see on the charts, there is a strong attempt to break the $120 level by the market, and one feels that it has to give way sooner or later. We buy dips until $115 gets broken. Otherwise, we are net buyers.
Originally posted here
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