Today's back and forth range could be 51.20 to 52.50 with most of the traffic around 51.75, So the trade plan will be to look for longs from bottom and shorts from top, and in the event we move out of this range then will watch mostly for longs above this level targeting 53.50, and a break below will have a target of 50.50
Comment:
This projected drop moving into lower target is right on the mornings plans, I think this may be bad for the long side of oil.