Wednesday, May 18, 2016

Price Action Trading The Wedge Breakout Failure On Crude Oil Futures; SchoolOfTrade.com



Today we see Crude Oil attempting a drive lower off the highs but we are in a range since the overnight session. This means that any attempt lower out of the wedge will likely fail and reverse in the direction of the other side of the range.

We had a HUGE sell attempt down which was completely shut down by the buyers showing what was really going on and looking to dive in for a move back up to the range highs!

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