News:
Crude Oil Inventories
FOMC Economic Projections
FOMC Statment
Federal Funds Rate
FOMC Press Conference
We may experience a high level of volatility today. A whipsaw moves targeting stops.
Price opened at 90.41 and moved lower. Currently its at Weekly open 90.20 level. Notice the diagonal line with red x. I see that as trend traders stops resting. If price moves lower, i will wait for price to reach 89.00 level and wait for bullish Price action to get long. If Price moves lower and closes below the DEQ 88.78. I will wait for price to hunt the stops resting at 88.25 level to form my bias.
If price finds support at Weekly open 90.20 level and moves higher i will watch what the Price tells me at the Monthly open. If price moves higher breaks through 90.93. I see that as buy protective stops raided and breakout traders stepping in. I want to see a Bullish Price action to get long. The market most probably reach for 91.75. But if price shows a sharp rejection at 90.93 level , i will stalk for bearish PA to get short.
Crude Oil Inventories
FOMC Economic Projections
FOMC Statment
Federal Funds Rate
FOMC Press Conference
We may experience a high level of volatility today. A whipsaw moves targeting stops.
Price opened at 90.41 and moved lower. Currently its at Weekly open 90.20 level. Notice the diagonal line with red x. I see that as trend traders stops resting. If price moves lower, i will wait for price to reach 89.00 level and wait for bullish Price action to get long. If Price moves lower and closes below the DEQ 88.78. I will wait for price to hunt the stops resting at 88.25 level to form my bias.
If price finds support at Weekly open 90.20 level and moves higher i will watch what the Price tells me at the Monthly open. If price moves higher breaks through 90.93. I see that as buy protective stops raided and breakout traders stepping in. I want to see a Bullish Price action to get long. The market most probably reach for 91.75. But if price shows a sharp rejection at 90.93 level , i will stalk for bearish PA to get short.