WTI Crude December unexpectedly collapsed again yesterday as we approach the next support level at 97.60/97.45. Although oversold we are in a 2 month bear trend. However there is a good chance we see a low for the day in this area but any longs need stops below 97.00. A break lower could then target 96.60/50 and then 95.80/75.
Immediate resistance at 98.65 then 98.90/99.00. We should struggle here but a break higher could then target 99.40 and possibly as far as 110.10/25