Light Sweet Crude
The CL broke out today, easily clearing the $110 mark and pushing all the way to $113 by the end of the session. There is certainly now a floor at $110 and this market can only be bought at this point in time. Buying on the dips is preferred.
Brent
Brent had an almost identical day today as it gained over $4 to settle above the $126 mark. This shows that the $120 should now be a floor for price, and buying on the pullbacks should be the correct strategy. Selling is simply asking for trouble at this point.
Originally posted here
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