FX Price Action – Crude Pin Bar on Pullback | May 6th
WTI Crude Oil
In the second leg of its most recent bull run, the commodity ran into resistance just north of $97. This caused some profit taking and a pullback into a prior role reversal level, forming a pin bar on the 4hr chart below. If the pin bar lows and $94.84 level holds, then a retest of $96.30 and $97 is on deck. A break below $94.80, will likely result in more profit taking, and setup an attack on $94.00.
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