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Crude Oil
Daily:
Crude Oil’s
daily anchor chart shows us trading up near the resistance at the highs of the
bull price-channel. We can see a little
room to breathe at these highs, but we are very close nonetheless.
Crude Oil 60-Minute:
The hourly
chart of Crude Oil shows us trading in a bull price-channel with a VERY narrow trading-range
in the recent few hours of trading. It
looks like we have higher-highs and higher-lows on this price-action even
though it is very concerning how the price-action appears to be very narrow so
we will take that into considering in our day trading plan today.
This is just
a snapshot of our Morning-newsletter which is posted every trading day at 8:00am EST in our Members Section.
Crude Oil
5-Minute:
Crude Oil is
trading in a very narrow trading-range this morning as we come out of the
overnight London trading Session. The
most important thing to remember with a narrow like this is to buy-the-lows at
support and sell-the-high at resistance until we get a successful breakout in price-action
and a new short-term trend. We can see a
short term bull price-channel has formed, which tells us that buying at support
levels on the way higher will be where the high-percentage-trades occur this
morning.
PRZ-Trade
today:
Short @
108.64
Long @
108.00
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