The U.S. session has opened with fireworks out of the crude oil markets. Since the traditional New York crude oil “pit” open at 9:00 AM EST, traders have driven the price of WTI north by almost $2.00. At press time, price is testing the $69.00 level.
The intraday uptrend is explosive, so keep leverage moderate. Here is a scalp setup from a short-term daily Moving average and the $70.00 level:
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