CRUDE OIL outlook for September 1, 2014

The much anticipated crude oil rebound was made last week. Crude successfully defended the support area above yearly lows at around $92 and closed on weekly highs. We are having a speculative long position now, with a stop-loss @ $94.50. Keep in mind that the medium term trend is still massively down.

WTIC_20140829

Chart courtesy of StockCharts.com. http://stockcharts.com

Please read the Disclaimer!

RECEIVE THE TRADING REPORT FREE OF CHARGE FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!