By FXEmpire.com
The Light Sweet Crude market rose on Friday as the bulls continue to push the market higher. The mere suggestion that quantitative easing could possibly happen have given a bid to risk assets, and especially hard ones. The market has been stuck lately though, and we still haven’t broken out of the range between $102 and $105 yet. In fact, that is exactly what we need to see in order to get involved, as the range is far too choppy at the moment for our liking. A daily close above the $105 level has us getting in on the long side, and selling could happen – but not until we are sub-$95 as it seems to be massive support in several spots all the way down to that mark.
Click here a current Crude Oil Chart.
Originally posted here
