WTICOUSD from the London open, we had a significant buying pressure supported by the daily open. That cracked the last resistance zone and created a Turncoat Resistance. $60 is now a strong low. So for today London Open should be considered supportive. We now wait NY Open and see if the support bias for the bulls persists. For the malapert amongst, we should be mindful that we are slowly creeping up the Fibs for the previous drop. We have seen this picture before, there is euphoric buying at the beginning of the month only to face news significant enough to cause a large sell off. We are very much sitting at a premium here. However, plan your trade and trade your plan, maintaining a good stop loss strategy.
There are certain days of the week that I am focused on family. So I wish you all good luck and a great weekend.
