We were watching for an entry on the bounce but it didn't get to our zone. After this big drop we WILL NOT be looking to short. That's trading. You have to be discipline enough to wait for your areas to get hit. If you are short...congrats. If crude decides to take out the major support then we could see a nice move down to the 88 area.
massive rally today almost negating yesterday's plunge. I am still bearish but I need to see more price action. By the way I missed yesterday's plunge too as I was looking for 97.00 to sell
OffTheFloorTrader
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Good points Olu...the path of least resistance is still short but our setups require a little more of a pullback. Good trading.