moves at the London opening again and was also not available when price reached a supply zone on GC I had identified, but would not have taken due to the basing and RPM breakout just below the supply zone.
Anyway, I was looking at the CL charts when I identified a demand zone from this morning and also the 1K volume chart had a demand zone from early this afternoon. But as it was a swing low in a down trend, I waited for confirmation and took it on the 6 tick chart where I had seen a few RPM up bars in a range, telling me that the buyers were more aggressive at this level. The trade was only for 62 ticks as I had seen selling coming with 3 HVC bars on the 6 ticks at a supply level.
Today was options expiry so, we have had a small range day on oil and the contract will be rolled over next week.
Here are the charts with explanation.
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