By FXEmpire.com
The Light Sweet Crude markets fell hard for the week as the bottom fell out of the $95 level. The global demand should be falling as the economy grinds down. The supply is still strong, so as the demand falls, there is a good chance that the market has to fall.
The $90 level is the next target for the bears, and the fact that the market closed at the very lows of the week is a very bearish sign to say the least. The $80 level is a larger support level, so it is very likely that the market will actually aim for that area. On a break of the week’s low, we are selling. If this market pops, we will look to sell weak daily candles.
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Originally posted here
