Friday, December 2, 2016 Morning Crude Comments from MB

Crude taking small breather, shorts feel more comfortable coming back in above $50-$51. Bulls need to build a floor above $50, bears need to return that as a ceiling.

$51.80 (**) TGT 3 + Resist

$51.52 (*) Higher TGT 2

$51.25 (*) First Higher Target + Some Resist

$50.74 (*) Early Pivot – Sets Bias

$50.20 (**) First Lower Target + Support

$50.00 (**) Psychological ## Target 2 + Support

$49.75 (***) TGT 3 + Support


All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC