During the Asian trading session, the price of oil managed to stay in the range of $88.50-$89.50. That didn’t last long, and in the European trading session, we saw a bearish impulse that pushed the price of oil down to the $86.00 support level. There is increasing pressure on the price of oil, and a break below and continuation of the bearish trend could happen. If that were to happen, the price could first test the $85.00 level. And if we don’t get support there, the potential lower targets are $84.00, then the even lower $82.00 level. For a bullish option, we must first hold above the current support at $86.00. We ... (full story)