Rounded off yesterday with 3 trades. 2 with Crude Oil and 1 with Gold. If you notice with crude oil, it has been rallying since pretty much from the start of September. Each week there is EIA (Energy Information Administration) data which records the number of barrels that has been produced. There have been three builds in supply of crude oil and one draw-down, so far the stock piles have totalled +13 million barrels, which is bearish for a commodity like oil, based on Supply/Demand. Even though there have been builds in inventories, the price of oil had rallied from $46 to just shy of $53. Now in during that rally, there haven’t been any notable pullbacks. However, we are starting to see oil unwind and fall lower due to the bull run being exhausted. During these proper pullback, I can expect to see price making lower lows and lower highs, which is how I’m able to catch some pips.

US Crude Oil and Gold

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