Light sweet crude has been extremely volatile as late and is looking to gain momentum to the upside after topping in mid June. If additional momentum occurs on Monday/Tuesday, it should invite institutional dollars to create a new leg up with an initial target around 112.50 and a secondary target of 120, should momentum push through. Stops need to be relatively wide with recent volatility with a 3xATR factor providing the most cushion, if not hedging with the forward contract.
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