Wednesday, April 6, 2016

Fading The Wedge Breakout Failure On Crude Oil Futures;

Today we had a relatively range bound market which lead into a wedge formation encompassing most of the morning. We initially saw a breakout which failed earlier in the day giving us a clue to see a breakout move higher.

This breakout move higher never showed up and instead, also failed cluing us in on a potential HUGE failure breakout move back down again to reclaim the lows of the day and possibly farther depending on how many trapped buyers are in the move!

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