Here is the current crude oil CL futures continuous contract. I'm reading lots of speculation and trades mentioning that oil is going $50 a barrel. Trade What you see, not what headlines are saying. I'm showing oil is approaching a key reference area @ 82.10. which also coincides with a 1-2-3 push. I have have noticed over the years the market Typically creates a top or bottom or a pivotal price area and you will see these 1-2-3 pushes. I have noticed after the 3rd push that the market regularly exhausts itself meaning a need for a rally in the opposing direction of the trend. Well were coming to that point now, trade what you see not what you hear. I believe a short term low is upon us. Good Trading KraTrader.
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