Crude bounced smartly off of 79.69 twice, with the 2nd test just happening in the Euro session this morning. It has returned to 80.40ish level. This sets up nice for a move back to 81.80 level to try to break the short at the 61.8% line of the recent downtrend. If it can do that, it will open up further moves to the 83-84 area. And, Nat Gas has went down and tested it's low, not breaking it decisevily. This looks like a range. So, I would cover your short nat gas positions and looks to get long on any further strength that this potential 3.10 - 3.60 range presents.
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