By FXEmpire.com
The light sweet crude market fell during the session on Thursday, as the overall risk appetite fell in most markets. The $80 level has been violated, and it does look like we are going to fall from here. There is a little bit of support to be found that the $78 mark, but it will more than likely be something that is overcome in the end. Because of this, we suggest that any rallies should be a selling opportunity, and will continue to treat this market as such. As for buying this market, we cannot consider that it in till we see at least $86 and even then would be a little bit leery as it would be countertrend. We suspect that $75 will be support, but could be overcome as well.
Click here a current Crude Oil Chart.
Originally posted here
