Wednesday, July 13, 2016

Price Action Trading The Wedge Breakout On Crude Oil Futures;

We came in today to find Crude Oil relatively stagnant given the last few days of movement. This began to form a wedge at the bottom that had a failed breakout on the low side which turned into a very large run higher for a breakout attempt up.

The buyers will likely be a bit hesitant seeing as the first breakout low failed so waiting for confirmation of the breakout in the form of a pullback is what is needed here to get the move going right back up once again!

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