Wednesday, May 25, 2016

Market Psychology Of A Trading Range Day On Crude Oil Futures;

Today we see Crude Oil gapping higher but with no sentiment on either end of the market from the prior day meaning we are likely to go range bound. This means we need to look to buy low and sell high and fade breakouts back into the range.

We had the sellers give it a shot this morning but they didn't get very far before buyers shot right back up again shoving all the sellers out causing a stop run move up into the news. The news then collapses right back down (sell high) into the apex of the wedge from yesterday!

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