Tuesday, June 28, 2016

Market Psychology Of A Pullback Morning On Crude Oil Futures; SchoolOfTrade.com

We ended the day yesterday with a HUGE run higher shutting down a lot of bearishness that happened through the entire day. This led into a very large gap higher where buyers are likely going to take profit on the run up in the overnight session.

This caused a bit of a drop in price from the open that the buyers tried buying as a pullback but failed to break back out above the highs. This failure was sought after by the sellers to shove the market even farther down to finish the move lower for buyers to reload more from yesterday!

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