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NYMEX Crude Oil Remains Under Pressure...


Friday January 3rd, 2014
NYMEX Crude Oil Remains Under Pressure...
by Mike Paulenoff www.MPTrader.com

Speaking of inventories, Crude Oil showed a much larger draw than expected, while gasoline showed a less build in supply than expected.

Yet, let's notice that nearby NYMEX Crude continues to press lower-- towards my next optimal and initial downside target zone of $92.50-$91.30.

Only a climb above $95.50 will argue for additional recovery into the $96.50 area prior to the resumption of weakness.

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