Blake Morrow’s Chart of The Day – Crude Oil
Crude Oil
As the market was believing that the move above the $75.00 level was a “breakout” the crude market hit the 127% extension and 200dma last week at the $77.27 level, we forged a “dark cloud cover”candlestick formation and is closing back in the old range. A break of the $74.00 level may open up a move back to the 50dma at $71.60.
20230718
