Crude Oil Futures Update

Crude Oil: WIth Friday strong rejection from 71.00, the bullish trend continued and as we suggested we could see a nice bull ride, next short term resistance is in the 74.00 area and support around 72.50.

We could see some choppy trading ahead as the Market waits for news from Iran. The 4 usd jump in Crude Oil we had these last two trading sessions is only due to the risk going into the UN deadlines.

Crude oil looks to trade back to 80 in coming days.