By FXEmpire.com
The Light Sweet Crude markets ended the week fairly flat as the bulls got pushed back in the end. The resulting candle is a shooting star, but we are sitting on massive support in the $100 to $102 area. The market overall will more than likely be inflated, even with demand waning in the US and Europe. The Chinese and Indians are willing to buy large amounts of oil, and this could continue to put a bit of a bid in this market. With this being said, we are buying dips, but taking profits rather quickly as this market should be choppy going forward. We won’t sell until we get well below the $95 level.
Click here to read Crude Oil Technical Analysis.
Originally posted here
