By FXEmpire.com
The Light Sweet market finally showed a bit of bullishness during the session on Wednesday as it broke through the $85 level. This move has been anticipated since the Monday hammer that seemed to form just above what can only be thought of as a potentially strong support level at $80. However, it must be stated that the candle formation for the session ended up as a shooting star, and with this market being so bearish, there is a real chance that this market will fall again. With this candle, it does give us pause on being long at the moment. The breaking of the top of this candle would be a bullish sign though, and it will take that for us to buy. Otherwise, we are looking to sell sub-$80 at this point.
Click here a current Crude Oil Chart.
Originally posted here
