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Potential Buy Entry Alert to Watch Crude Oil
Time Frame : Hourly Chart
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Crude Oil
Crude Oil did rally as expected but on the back of a Trump tweet that we suspect lacks any foundation as I do not think that Putin will listen to him, considering the US has taken market share from Russia for years. Trump has a history of tweeting what he ‘would like to happen’ rather than what is happening so expect the market to give up some of the gains. The positive is that buyers have shown their hand and rallied price meaning that the interest is on the buy side so we will continue to be patient….and hopefully Trump does not try to ramp the price again overnight.
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Commodity : Crude Oil
Current Price : 2390
Status : On watch for move lower to reset and then lift back through 25.15
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