By FXEmpire.com
The Light Sweet Crude markets fell slightly on Friday as the weakness continued in the market. The rumors of a release of crude from the Strategic Reserves of Britain, the US, and France continue to make their rounds, and this will continue to put pressure on prices.
However, the last time this was attempted, the fall in price lasted just 7 trading sessions. Because of this, we look at any move like this to simply be a chance to buy this market from lower levels. The $102 to $95 area in this market is extremely congested, and we find it difficult to think that this market will slice through all of the noise easily. Currently, we are waiting to see supportive candles in this area in which to buy.
Oil Forecast April 2, 2012, Technical Analysis
Originally posted here
