Thursday, June 23, 2016

Price Action Trading The Wedge Breakout Move On Crude Oil Futures;

Today we have a very nice run higher on Crude Oil which hit the big 50$ mark and it shut down all of the bullishness that was there. This complete shut down of buyers likely took a lot of traders by surprise which led to the stop run move lower.

The pullback off the highs were very likely bought but with the bulls getting worse and worse follow through, when they saw a wedge breakout potentially occurring they all realized they were wrong and exited causing a VERY  nice run lower!

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