Oil Update, August 3

Back to blogging, after a small break.. Markets have been falling apart lately, with volatility at the highest level i've seen in months..I will start my updates with the Crude Oil chart. I believe starting tommorow, we will see the beginning of a new leg up...Im betting on the 91.20 level seen today to hold the decline. The plan is to place a stop just below the 91.00 and go long, aiming for over $100..

Oil, 8 Hour chart