over night action is reasonably balanced and is sitting on lower break down area as of this typing. will look to see if we range trade or break down at 58.20 area. if back into the that looking for the top of range at 59.40. So will lean long over the range top and short under the range low. Upper target is 60.20 and lower target is 57 The 58.20 and 57.80 will be possible bounce points and also rejection points, so a plan will be if we break down does the support become resistance and if so that is a good stepping off point.
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Oil moved right to the 57 price, now looking to see if this tiny bounce holds.
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will remain leaning on shorts as long as we remain below 57
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trade worked out very well, hope I was not alone on this one