Crude Oil Trading Recap

WTI Crude Oil opened below the ETH (Electronic Trading Hours / Globex) volume value area. Before the London open the market formed a poor high and I have expected a test of the VVAL level for a potential short trade but the market sold off in the overnight session without a meeting with that lovely location.

Looking at the weekly profile, we can identify the nice support from the previous week's VPOC and POC in an acceptance area:

That level was confluent with the NPOC (TPO based) around 38.35 on the daily profile chart. Actually, I gone short too early around the 38.75 VVAL level and paid my impatience with a stop out. However, the reaction around the mentioned NPOC and the following long trade paid me back quite well.

That said, emotional calmness after a stop out is pretty lucrative. Anyway, stay tunned for a pre-analysis later this weekend on CL.

Have a great weekend!