My thoughts on oil for September 11, 2019

If the oil market continues on this course for the day then we will open inside of the yesterdays trading range. if this range is tested expect us to trade near yesterdays highs 58.63 Keep in mind we have the¬†EIA¬†report today so this may add some momentum to the direction of trend. If oil trades below 57.00 at anytime today I strongly think we will see it go down to 56.27. I will be looking for an entry below 57.00 for an initial target to 56.60. If you’re a bull in oil today your primary entry price is going to be above 58.30 to 58.63. Keep in mind I also believe it can go higher but I’m just discussing the most probable and attractive price for me. I hope this helps I look forward to seeing you all in the trading sessions today. Have a great trading day!