By FXEmpire.com
The Light Sweet Crude markets rose during the Tuesday session to break above a downtrend line that had been pushing prices lower for the last couple of week. The $104 level was an area that we mentioned yesterday as a barrier, and it has been overrun. Because of this, we like buying this market again, on dips and on a move above the Tuesday high. Selling cannot be done at this point as there are so many potential support levels. The $95 level would have to be broken below in order for us to sell at this point, and that looks very unlikely.
Oil Forecast April 18, 2012, Technical Analysis
Originally posted here
