We came in today after a full weekend of analysts ripping apart the Brexit vote with fresh eyes. This gave us a HUGE gap lower on Crude Oil showing that the bears from Friday haven't gone anywhere and are likely going to keep wanting to sell.
The large gap lower will likely see an initial buy move just off of sellers taking profit and other sellers not wanting to sell that far down who will wait for a retrace. This gave them a great area to sell right back down again turning the day into a range sentiment going into lunch time!
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