Light Crude Oil: 10 December 2014, Wednesday, 11.35pm Singapore Time

Light Crude Oil: 10 December 2014, Wednesday, 11.35pm Singapore Time
Chart courtesy of StockCharts.com

Attached above is the chart of Light Crude Oil (WTIC).

As per warned previously in Singapore Forums that Light Crude Oil is far from bottoming, and that one should never catch a falling knife because falling knife can kill, the selldown is still in progress.

Based on Donovan-Norfolk proprietary modelling, Light Crude Oil is projected to bottom only at $49.50-$50.00 region.

Donovan Norfolk Technical Rating on Light Crude Oil:

No Bottom In Place Yet

Bearish

Continue to short on immediate rebounds per warned previously

Donovan Norfolk Ang

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