As you know, we promise to send Oil Trading Alerts each trading day. The markets are closed in the US today, but we have decided to send you a short message anyway. We don't expect any major announcements or major price moves today, so we don’t suggest opening a trading position today. On one hand, light crude hit a fresh monthly low and broke below the medium-term support line (the breakdown is not confirmed), but on the other hand, crude oil reached the 200-week moving average and remains above the long-term declining support line. It also reached the May low in terms of daily closing prices, which is slightly above the 78.6 Fibonacci retracement level based on the entire April-August rally.

We will re-examine the situation from every angle and provide you with our conclusions in tomorrow's Oil Trading Alert.

Have a happy Thanksgiving holiday weekend!

Thank you.

Nadia Simmons
Sunshine Profits' Crude Oil Expert
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