Wednesday, June 22, 2016

Price Action Trading The Bearish Continuation On Crude Oil Futures;

We came in today to see Crude Oil dropping most of the morning after the huge API run higher last afternoon. This move down was likely initially on profit taking but had gone on a bit too long as was transitioning into a bear trend quickly.

This gave a snap back to the EMA on a 2 legged correction before seeing sellers pile right back in for another drive to the lows to finish the move off  ahead of the inventory numbers later in the morning!

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