The markets are slowing down and to some extent I guesse its because of the US elections coming up today; so we dont have any signals today either.
But since we traders always have something to say about the markets even when there isn't much market activity, here goes. So, after the fall of the price of Crude Oil over the past two weeks from the 51.50 resistance area, prices have found strong support at the 43.50 area. What is more, yesterdays market activity in Crude closed bullish. Under such circumstances it would be an excellent signal to go long today. And indeed, I imagine that some traders would have bought a few contracts of Oil, but I would like to wait till after the US elections. I can't say if it would impact the markets much, certainly not sure about crude, but I'll just wait.
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