Wednesday, June 22, 2016

Market Psychology Of A Tight Range Morning On Crude Oil Futures;

We open up with a small gap up after a large burst of buying pressure off the EOD yesterday. This is going to create some very happy buyers which will be in two camps. One will take profit right away and go home for the day while the others will get a bit greedy and try to hang on.

This ended up causing a range on the day with the greedy buyers essentially putting a ceiling on the market after they realized they were wrong before seeing the sentiment completely shift going into the news allowing the bear breakout lower!

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