July 13, 2016
Market Psychology Of A News Breakout On Crude Oil Futures; SchoolOfTrade.com
Today is Inventory Day for Crude Oil Futures and it is a VERY active day when the numbers hit at 1030EST. This movement is enough so that waiting a good half hour before the news until after can keep you out of a lot of trouble and today was a great example of that.
We have a very nice gap lower that was anticipated to find some support around 24 but when that broke down, we had all signs pointing to bearish going into the news. The news comes out, whips both sides of trade and slams lower closing on its bottom showing bears mean some SERIOUS business!
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