Crude Oil Price Sinking Or Rebounding

Trading position (short-term; our opinion): No positions are justified from the risk/reward perspective.
On Friday, crude oil lost 1.65% as a stronger U.S. dollar and news that Saudi Arabia lowered the price of oil for buyers in the U.S. and Asia continued to weight. As a result, light crude moved lower for the fourth time in a row and closed the week at its lowest level since mid-Jul 2009.