The market opened with a big negative gap, but there was no follow through, in fact the market started to slowly fill the gap and eventually we erased all the losses as if that never happened.
I've laid out a non-consensus opportunity here, and today we might get the first catalyst for a rally depending on the details.
On the 4 hour chart, we can see the negative gap that was eventually filled and the key resistance around the $60.00 level. The buyers will need to break above that resistance to target the $62-64 price area next. The sellers, on the other hand, will likely step in around the resistance with a defined risk above it to position for a drop back into the $55.00 level. This might even turn into a big double bottom, but we will need positive developments on the trade front.
This article was written by Giuseppe Dellamotta at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Crude oil looks to be bottoming out as the first trade deals come into focus )
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