Tom_Killick
Short

#CL1!(Crude): Compelling Bearish Activity, Downside Expected!

NYMEX:CL1!   Light Crude Oil Futures
141 4 11
Traders,

Crude has opened with a compelling gap down, confirming a retest of the support/resistance transition line, confirming the bears are in technically and fundamentally too. Oil             should see downside probably until the end of the week, and the move could be rather fierce and bears put pressure on the market throughout short covering.

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Excellent call!
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Thanks.
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What is a reasonable downside target range for oil?
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thanks for the analysis :)
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