Near Term Trend: Neutral
As of 12/15/17 close: $57.39
UPDATE: Last week, I suggested shorting up to $57.56 with stops on a close above that level and with a target of $55.15.
Crude finished nearly flat for the week after dropping sharply early in the week and recovering Thursday and Friday. A look at the daily chart of crude oil tells me that crude can easily trade up to $58.92 in the next couple of sessions before likely turning down towards $54.39 support.
I would be looking to short crude up at $58.92 with stops on a daily close above that level. The downside target for the short will be $54.39