Stock Market ToDay

Day Trading Crude Oil

Trading oil was quite confusing for a will. with a very strong volatility…it wasn’t easy to see a clear direction. How ever,since a few days, we see a down trend. Sellers selling and they are very strong. Breaking Bull trend line, one after another one…it look like this would never end.

Tomorrow will be very important day, if buyers could find any resistance, we would see Oil price fall till the 200SMA Daily.

Day Trading Crude Oil Daily Chart

On this daily chart, we can see how sellers keep selling without any rest. This give them a great strength to keep bring oil price down, how ever…the moment , they lose momentum, buyers will jump in the market and bring Crude Oil price back to last highs.

But right now…selling is to late, without taking addition risk, and Buyers way to risky with all those sellers commitment…the less risky thing to do now, is to wait till Crude Oil find a resistance/support at 102.00 or 98.50 price range.