Crude oil is in the news again, with Saudi Arabia agreeing to a partial cease-fire with Yemen. Crude oil ($CL_F) responded with a 1% drop in prices. How do you view and trade this opportunity? I discuss this in today’s video update.
Using technical analysis, it’s easy to see the manipulation of price in the markets. Prior to the report, Hawkeye volume identified clear buying pressure during the London open. The intent was to bring price back to a region that is attractive to sellers, namely overhead supply. And that’s exactly what happend, as price rallied back to yesterday’s close.
Then it’s very easy to see the selling pressure put at that level. Hawkeye Volume and Hawkeye Zones working together to show the true market intent, over 2 hours in advance.
Supply regions are graphically shown using the Hawkeye Zones. I like to use it on a 60min chart, which I think acts like a “price magnet”.
Once you get a market event that produces a long-range bar (Hawkeye Widebar), we know exactly how to trade the resulting trend. Learn to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
Learn to trade the Hawkeye way.