Oil Forecast January 25, 2012, Technical Analysis

The Light Sweet Crude markets fell on Tuesday as the market continues to grind slightly lower overall. We have recently identified the $98 level as an area we want to see a close below in order to sell, and we still believe this is an excellent place to see selling come into the market. The overall tone of the market is deteriorating a bit, and this should facilitate this move in the near future. Until then, we can only wait for that close. We would consider buying, but only if we manage a daily close above the $105 level.

Oil Forecast January 25, 2012, Technical Analysis
Oil Forecast January 25, 2012, Technical Analysis

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