We’ve never cared so much about crude oil inventory data! Today’s data release at 9:30am (Chicago time) showed a large drawdown and bang – we took off like a rocket to the upside.
We know this is a big trending move because we broke Resistance on the low, intermediate AND highest timeframe. So the move isn’t over until we see a Pull Back to End of Trend signal on the highest timeframe – which happened after 2pm.
Plus we didn’t see any weakness before 11am – so the “reversal window” had closed and we were just going to spend the day breaking to new Highs (highest probability activity).
Good luck with your Emini trading tomorrow.