By FXEmpire.com
The Light Sweet Crude markets rose during the Wednesday session, bouncing from the area just above $100 level. This market has been sold off strongly as of late, but in reality oil markets are still bullish overall. The problems in the Middle East are finally starting to fade into the background, and the supply and demand equation is starting to take a more prominent role in this market. Because of this, we see a potential bounce, but aren’t overly excited to take the trade. We think this market will grind higher, but slowly. Selling isn’t possible until we break below the $95 level.
Oil Forecast April 12, 2012, Technical Analysis
Originally posted here
