Monday, January 23, 2012

Light Sweet Nearing Pinch Point @ 99.95 (USO)

5 min
Crude has trended higher into a consolidation pattern in and around 100 since the 98.60's found a bid in the wee hours of the morning.... remember 100 is a rather sticky area.. politically fundamentally & technically speaking.

two things can happen..

A. CL will break out of the formation over 100 and melt up into the evening hours...

B. 99.80 fails and we see a test of 99.50

1 min CL