Crude oil soared higher yesterday and also in today's pre-market trading, which shows you why it was a good idea to remain cautious yesterday, even despite crude oil's breakdown below the rising support line. We previously wrote the following: We saw a tiny breakdown on Wednesday, but it was not based on the decisive move lower, but rather based on the fact that time passed and the next daily candlestick started below the line. While this makes the outlook more bearish than on Tuesday, the breakdown is not confirmed and we think that the outlook is not bearish enough yet to justify opening a trading position at this ... (full story)