December mini Nymex crude oil futures a selling opportunity on more price weakness.
See on the daily bar chart for December Nymex crude oil futures that prices are in a near-term downtrend and the bears have gained downside technical momentum. A move below technical support at Monday’s low of $100.88 would provide the bears with better downside near-term technical momentum and it would also become a selling opportunity in the December “mini” Nymex crude oil futures contract. The downside price objective would be $93.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at $105.00.
