The price of oil rise yesterday, but the rise remained limited levels below 69.20, and trading under this level may be cause to keep the prospect of descent momentarily. But from the bottom, a break of 65.80 could be a reason for a significant extension today.
From the top, only a breach of 69.20 will cause the downside to fail, but we would prefer to keep trading below 67.10 to keep the downside.
From here, it might be a good thing to sell US light oil below 66.50 with the expected profit in two stages at 65.80 and 65.00 and stop loss above 67.20.
