Energy Futures Update

The weekly inventory data will be published tomorrow, moved because of the Columbus day holiday on Monday.
However, the market will await the monthly IEA report, due to be published today.
It is hoped by many traders that this might provide some insight into what the OPEC report, due to be published next week, might reflect. Not withstanding OPEC rhetoric, of course.

Until then, it looks like WTI to stay inside of the daily range at 58.00 to 62.00. As the market is currently trading around 58.00, we see this as a good opportunity for fresh longs, targeting $60.00, on an intra-day basis, ahead of tomorrows inventory data.

Keep good discipline and tight stops, as a break through the daily low from last week could trigger an avalanche of stops.