Thursday, May 19, 2016

Price Action Trading The Bull Failure On Crude Oil Futures;

Today we have Crude Oil running lower with quite a bit of aggression. This was met with heavy profit taking off major support at 47.54 before seeing the buyers completely fall apart allowing the sellers to get back in for a move to the lows at a phenomenal price!

Big trends like we have from the very start of the day are quite difficult to reverse without several attempts and this is a great example of it. The bear trend will likely continue and any bull move against it will probably fail given the proper signal.

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