GhostSquawk

Crude oil waiting on its next move - #oott

TVC:USOIL   CFDs on WTI Crude Oil
Crude oil market took a huge dive yesterday after touching the 100 dollar mark for a barrel of oil. The price action yesterday gave us some valuable clues as to the sentiment in the market and the trading behavior. Although we had a huge rally, the market sold off on relief but settled in a key point of control zone at approx. $93. We can see that value is being to develop here and that the next leg in the market is likely going to be up. With that being said, if we get moves to the downside, we will be looking to buy at the following support zones; 89.30, 87 or 84 area. If further tension escalates, we full expect the $100 mark on crude oil to be fully taken out with more extensions to the upside.

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