After the $15 bull run, Crude has been consolidating for the last month or so. Each time its hit the 102.75 level, it has bounced over $5 offering a really good reward to risk play. Key resistance comes in at 107.75, so bears can look to sell here, while bulls can look to get long off the support level trading with the trend.
Only a daily close below 102.21 will give a short term bearish bias.
Only a daily close below 102.21 will give a short term bearish bias.