This morning we had a gorgeous run higher on Crude Oil which found itself in a bit of an exhaustive move up with buyers putting TOO much ammo on the table and not leaving themselves enough to defend their positions. A lot of times when this happens, if price returns you will see snap selling and a push back in the other direction.
We had a break of the highs which was immediately sold back down with buyers exiting the market for profit and sellers scaling in the highs for a push down effectively leaving nobody to buy anymore which causes the subsequent drop back down again!
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