Crude oil

take a look at the Move In crude oil on 60 minute chart. Price action took no prisoners on the way down dropping 5.7% from Mondays highs to Tuesdays lows. Worries   about trade deal and Expectations for a hefty build in oil stocks gave confidence to the bears. Early Wednesday morning prices  started bouncing a  bit on the oversold conditions and they skyrocketed as stocks at Cushing ,the delivery point for Cl contract, dropped most in 3 months.Even though a Build was  reported in   nation wide  storage, markets cared little  as CL rallied 6%   from Wednesdays lows to today’s high,  Impressive  price action this week


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