August Crude oil traded higher after the Dept of Energy report a higher that expected draw on supplies last week. However, the rally was short-lived after crude failed after trading above the previous swing high–basis the 60-minute chart– and turned lower. This price action is negative and triggered a sell signal during the decline. For updated information on stops and target objectives for the swing trading opportunity check the TMV Swing Trade report.

August Crude oi - click to enlarge

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