Near Term Trend: Bearish
Fridays Close: $43.17 (+0.16)
UPDATE: Last week, I suggested shorting crude at $45.42 or $46.93 with a downside target of $41.61 and stops in place on a close above $45.42 and $46.93, respectively.
Crude oil continued lower for another week as more bearish fundamental data / headlines continued to flow. There was somewhat of a bounce late in the week, though. Still clearly a bear market, though.
I would be looking get short on a bounce to $43.28 with a downside target of $40.69 and stops in place on a close above $43.50.