Crude Oil Prices for the Week of June 11, 2012, Technical Analysis

The Light Sweet Crude markets had a fairly benign week in the end as the candle for the week looks a lot like a “dead cat bounce”. The fall in this market has been steady, strong, and certain. There is no way to look at this as a market we should be buying, and as such we prefer to sell the rallies at this point on weakness. The daily chart can be used for the signal itself, but we are respectful of the boundaries set by the weekly chart. If we get below the $80 – we add to our shorts. 

Crude Oil Prices for the Week of June 11, 2012, Technical Analysis
Crude Oil Prices for the Week of June 11, 2012, Technical Analysis

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