Price Action – Crude Oil Accumulation & Breakout | Dec. 17th

Crude Oil
After bottoming for the second week of December, Crude Oil has I think formed a medium term bottom off the pin bar lows from Dec. 11th.  In the process, it has shown signs of accumulation and formed two intraday breakouts so the bulls clearly have control short term. I’m looking to get long ideally on a pullback towards $87.10 and if it shows massive strength, then a pullback towards the more shallow $87.66 level so watch for price action clues here. Resistance comes in short term at $88.48 and $89.

accumulation buying breakouts pin bar price action 2ndskiesforex.com dec 17th

For those wanting to learn to trade price action, access to the traders forum, lifetime membership & more, visit my Price Action Course page here.

Upcoming Economic Announcements:

CNY China Property Prices 20.30EST
GBP Core Consumer Price Index (YoY) 04.30EST
JPY Merchandise Trade Exports (YoY) 18.50EST

Check out my latest article which is a must read on What Is A Quality Signal?

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article

  • Tony

    Thanks for this one Chris.
    Played out just as you had foresighted.

    Cheers

    Tony

    • Hello Tony,

      Yes it did so glad you could profit from it.

      Kind Regards,
      Chris