June Crude Oil: Crude oil ended unchanged at 11228 on Monday closing out the day with a Doji candlestick, a potentially Bearish signal. Typically, the Doji marks an end to an uptrend resulting in sideways trade with the potential for a reversal. On a daily basis, a close below 11000 confirms a reversal setting off multi-day sell offs towards the 10500 level. On an intra-day basis, we're looking at a Mixed to Lower bias today on trade below 11228-11275 R1 Resistance. Trade above 11275 may buoy prices towards 2011 highs in the 11348 to 11405 range, however, only a close above 11348 negates the Doji candle.

Heading into the primary session, failures against 11228-11275 R1 Resistance offers short scalping trades with Stops above 11291 suggested. We'll be looking for trade to trend lower targeting 11108-11085 S1 to 11000-10975 S2 Support zones. The downside break of 10975 reinforces the Bears igniting sharp drives to S3 and S4 lower listed Support targets. On the upside, buyers can scalp against both S1 and S2 Support ranges with Stops placed 16 cents below the low of each

respective zone. Target 1 is at 11228-11275 R1 Resistance. A flip above 11275 sparks rallies back to Monday's high at 11325-11348 R2 with a chance for a run to 11380-11405 R3 (Last week's June contract 2011 High). A break or a close above 11400 opens the door to 11500 R4.

Daily Chart:

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