CRUDE OIL outlook for September 8, 2014

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

WTIC_Oct14_20140905

Chart courtesy of Barchart.com. http://barchart.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 !!!