CL1! - bull/bear toss of the coin from here

22 Mar 2014

Crude oil has made a very natural correction over the past couple weeks as it cleaned itself up from a 'stupid overbought' condition registered through late February & early March, 2014. We have come back to the 38.2 fib, consolidated and are now deciding weather to rally back up into the short term OTE short zone (102.22 to 103.54) or to complete the daily OTE long ss tag (95.36). Frankly, I don't think anyone really knows which scenario will play out. The message here at the moment appears to be - the easy short off the top is done and now a break of either the 97.37 lows or the 100.37 area highs shall indicate direction going forward......which one will it be???

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