Crude oil bouce back but failed to hold above 105$/bbl

Short Term Target 103.50
Stop Loss 1ATR(20) ~1.134$

Target 1 : 103.50
Target 2 : 102.50

-new high at ~105 failed.


-Ongoing OPEC meeting have offered no surprises and we don’t expect the Cartel’s communique to exert much price impact.

Geopolitical Risk: increased violence in Iraq