Oil – Getting Hammered
Commodities have broken down across the board with Oil leading the way. After a massive uptrend and reaching $103 a barrel, it formed an outside candle which has seen the commodity almost $5 in the last 12hrs. We do not expect any bulls to be excited about getting in at the moment, and we anticipate further losses, will pullbacks to the $99.50 and $100 region capping rallies so look for price action clues for your entries.
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