NYMEX:CL1!   Light Crude Oil Futures
86 0 0
The WTI had broke its resistance area of 30USD.Weak growth rate in China (lower in 25 years), better relationship between Iran and NATO, are the principal news for the break off in this picological barrier, but it would not go down clean, the price is going to have reversal pattern before touch 20USD. According to a previous resistance area produced between 2003 and 2004; the range is between 25USD and 28USD, in this area we are going to find an area that would bring the price until the break even moment illustrated in the chat(33-32USD) in that moment, we take the short position.
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