Friday, January 10, 2014

Crude Oil Opening Bell Analysis

9:15am EST:  we completed our opening-bell analysis and we found that Crude Oil had closed at the lows of the day on Thursday, followed by an opening-print at the highs from Thursday with a big gap up on the morning session.

We can speculate that due to a lack-luster jobs report at 8:30am EST this morning that the buyers and the bullish market sentiment we saw overnight may soon come back down as price-action collapses off the PHOD.

Our plan is to look for selling-opportunities as we come below the PHOD and look for taking profit at the value area levels below us, along with the ultimate target at the PLOD at 91.24.

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