The Light Sweet Crude markets rose just a bit during the session on Friday as the crude oil markets are currently treading water at these levels. The potential flag that had formed and got broken to the upside still has to content with the $105 level before being completely confirmed. The market seems a bit heavy at this point, but selling doesn’t make sense until we break below the $100 level. Quite frankly, we are selling below $100 – and buying above $105.
Oil Forecast January 9th, 2012, Technical Analysis
Originally posted here
