The WTI Crude Oil market rallied a bit during the trading session on Friday initially, but struggled at the $63.66 level. At this point, the market found quite a bit of resistance and therefore rolled over rather significantly. By selling off the way it had, it shows that the area is going to continue to be difficult to overcome, but I also see a significant amount of support at the 50 day EMA which is colored in red. I also think that the $60 level will be massive support, as we have the 200 day EMA just below it. The large, round, psychologically significant figure of course will have a lot to do with where we go ... (full story)