Oil found a one way street yesterday and got a bit carried away...breaking 9538 for 9548. We have seen the market pullback from here, and currently we are back below 8538. This resistance does offer good reentry point for shorts if seen. Place stops then above 9555.

9490 is our first port of call..we cover shorts to here. Re-sell a break below 9490 as a break would suggest further to go on the downside and we will then be in a good position to trade lower to 9391/80.

If however we do break 9555 abolish shorts, go long looking for 9608 then 9665.

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