RANGING MARKET BUY SETUP

Crude oil is currently ranging between two key levels. The problem is that there is no sign of price action rebounding, and it looks like a falling knife. However, this is a perfect zone for a reaction. Aggressive traders can open a small position from here. Personally, I will wait a little to see the start of bullish momentum first. Don't forget about the large spreads when the market opens. $71 looks like a perfect TP target. Let's see.