By Jamie Saettele, CMT FXCM

Since the top on the second day of the year, crude is quietly making lower lows and lower highs. This is the very definition of a bear market. The inability of crude to ramp higher as the US dollar has taken a beating in recent days suggests that this market is particularly weak. The downside remains favored in anticipation of a break.

Bottom Line ? short, stop 10375, target open.

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