By FX Empire.com
The Light Sweet Crude markets had a very tight range on Friday as traders simply had very little to trade about. The market has continued to tighten over the last several sessions, and as a result we still see the markets as being in consolidation between the $98 and $105 levels, and as a result will not trade until we break out of this range. We feel the market looks a bit on the bearish side though, but until we get that break below $90 – we will being sitting still. Buying won’t be done until we get above the $105 level on a daily close.
Oil Forecast January 30, 2012, Technical Analysis
Originally posted here
