By FXEmpire.com
Light Sweet Crude markets were fairly flat for the Friday session as the markets took a break. The Americans are celebrating Memorial Day on Monday, and as a result most large firms are closed until Tuesday. The light volume did little to change prices, and the market still sits down near the $90 support level. In this situation, we like selling a daily close below that mark, or fading rallies as they show signs of weakness.
The $96 and $98 levels both look very resistive to us, so those two areas could be candidates for selling a weak candle if we get that breakout higher. However, a close sub-$90 should push prices down to $85, and then $80 by the time the dust settles.
Click here a current Crude Oil Chart.
Originally posted here
