Crude Oil had a very volatile week as it unsuccessfully tried to rebound from its yearly lows. It seems like price is in a consolidation phase before a continuation of its downmove. The next target on the downside is $90. A stop @ 94.20 is warranted for short positions. Keep in mind that geopolitical news or rumours could cause sudden spikes that could trade you out of an otherwise good position.
Crude Oil October futures, daily chart
Chart courtesy of Barchart.com. http://barchart.com
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