Crude Oil Trading Strategy - 6/13/2016

After Crude's inability to sustain over 50, short term bias is for downside. But since it's sitting right at 48.50 support level, we would like to wait for a bounce towards 50 to short it and see how it behaves. Downside target we will be looking for is 46. But we will be nimble and watching the price action closely at 50 looking for immediate weakness. If it lingers over there and doesn't budge, then we won't hesitate to cut it.
Here is what we said about trading curde sometime ago.