Crude oil bouce back but failed to hold above 105$/bbl Short

Crude Oil FuturesNYMEX

Description

⋅ Jun 11, 2014 1:08 PM

Short Term Target 103.50
Stop Loss 1ATR(20) ~1.134$

Target 1 : 103.50
Target 2 : 102.50

-new high at ~105 failed.

-Ongoing OPEC meeting have offered no surprises and we don’t expect the Cartel’s communique to exert much price impact.

Geopolitical Risk: increased violence in Iraq

Comments

LEONES

⋅ Jun 11, 2014 8:01 PM

HI E-TREND! I don't agree with you, the resistance is broken and this is likely to push higher. Something happening in Iraq..