By FX Empire.com
Light Sweet Crude
The CL contract rose again on Thursday as traders continue to push the market higher. The $100 level above should certainly become massively resistive, and we think that area should be a real fight. The market looks healthy, but if you are just now getting into this market, you are probably chasing the trade. Waiting for pullbacks to buy seems to be the best way to go about trading this market currently.
Brent
Brent had a positive day on Thursday, bouncing back from the massive fall on Wednesday. The $112.50 area has shown itself to be supportive, and we think that the recent highs in the $117.50 vicinity should be retested. We like the strength of this market, and would be willing to buy.
Originally posted here
