Tuesday, June 21, 2016

Price Action Trading The Strength Continuation On Crude Oil Futures; SchoolOfTrade.com

Today we come in with a huge drop lower in price on aggression after Crude managed to tap the 50$ mark yesterday afternoon. This led to a large sell move right back down again showing buyers had no interest in anything but profit taking at those highs.

This created a strong tight bear channel lower that bulls tried breaking out of only to fail right back down on a large bear rejection stopping the bulls out of the move. This stop run caused a nice drive down for easy targets lower!

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