-
Failed Breakouts in Crude Oil Lead to a Profitable Opportunity
Crude oil moved sharply higher yesterday, almost touching the previous August highs, but it didn't manage to break above them. The resistance that we outlined in the previous Oil Trading Alerts kept the rally in check, and we already see the result. Crude oil simply declines. What's next? How far can it decline? In short, the previous outlook remains up-to-date, simply because the situation developed in tune with what we wrote. Of course, a daily rally appears bullish at the first sight, especially for the inexperienced traders, but this is a false signal. To be clear, a daily rally is not bearish on its own, but ... (full story)