This is one of our favorite patterns and we were shocked to see it today. But hey...were traders and trade what we see. Even with the bullish dollar, Crude got bought up when it slammed into the Major Support level. This is bullish and is telling us to expect a short term bottom.
There is is ample oil supply in the market and the dollar is bullish so we expect more downside over the next few weeks. But for now we will take this opportunity and run. Our long entry is 92.90.
There is is ample oil supply in the market and the dollar is bullish so we expect more downside over the next few weeks. But for now we will take this opportunity and run. Our long entry is 92.90.
