Near Term Trend: Neutral
As of 10/13/17 close: $51.42
UPDATE: Last week, I suggested buying crude on a pullback to $47.63 and selling up at $53 - $53.13.
Crude is all over the place recently seemingly trading very randomly and violating rule after rule of technical analysis. So, until further notice, lets label my crude recommendations low conviction. In the chart to the right, I see possible support for crude at $50.15, $49.21 and $48.35. Possible resistance comes in at $52.16 and $52.58.
I would be looking to buy at $48.35 with stops below $48 and with an upside target of $52.08. I would be selling / shorting up at $52.08 with stops on a close above $52.58.