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The light sweet crude market had a negative session on Tuesday as the $95 level continues to be tested as support. The market looks extremely tenuous at this point time, but we see so many different support levels below that we are very hesitant to short it.
There are rumors of in SPR release in the near future, and this of course has wait upon the markets recently. However, we think that the uptrend is still very much intact, and would remind you that the last time the SPR was released; prices only fell for about eight days. Because of this, we are buying dips as they come along.