WTI Crude December could not hold support at 97.60/97.45 in the 2 month bear trend, reaching 96.60/50 but bounced above 95.80/75 from 96.16. However we are so oversold now that it looks likely that we at least stabilise in to the end of the week & probably will see a recovery. Any weakness should off a buying opportunity at 96.20 to 95.80. Exit shorts & try longs with stops below 95.50. A break lower could then target 94.76.
A push above 97.60 is more positive & should help prices recover towards resistance at 98.70/90. A push higher perhaps later in the week should then target 99.36 & possibly even 100.25/45.