Light crude oil futures (CL) could be in Wyckoff phase D with a sign of strength rally unfolding. Find out how you can take advantage of the strong crude oil price with Wyckoff analysis. Watch the video below:
Current Crude Oil Market Update
Despite the light crude oil hit the overbought of the up channel on top of spike of supply for 4 days as annotated above (volume is circled), change of character bar was not observed. This suggests that the up move will be resumed to test 83–88 until emergence of excessive supply.