By FXEmpire.com
The Light Sweet Crude markets fell hard during the Monday session as the bullishness in the US dollar continues. The “risk off” trade has many people selling first and asking questions later, and the oil markets aren’t going to be any different.
The candle is very weak looking and the market looks as if it is going to continue to fall. Any rallies at this point should be sold as the levels that we looked at as the line of defense for the bulls have been shattered. We are selling all rallies on signs of weakness, and a break of the lows from the Monday session. Buying isn’t a thought at the moment.
Click here to read Crude Oil Technical Analysis.
Originally posted here
