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Price Action – Crude Oil Inside Bar Setup | Apr. 25th
Crude Oil – Inside Bar Setup
Like the major commodities lately, Crude Oil has been on a tear lately, up over $6.50 in the last 6 days of trading with the last two being quite bullish. Checking in on the 4hr charts, the commodity has formed a small inside bar setup. Generally in such strong with trend moves, small inside bars with small rejections in the A Bar (bar prior to inside bar) suggests likely trend continuation.
Should price action break above the A bars high, expect a test of $94.50 and 95.75. Intra-day price action support comes in at $92.54 and $91.95 so look for either a pullback or breakout to get with the current uptrend momentum.
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