Oil Futures (45) Long Gap Reversal

Price runs up out of a relative low, Buyers step up and try to make a new high and confirm the major reaction Leg. Sellers holding at the high and pullback into a major reaction, buyers step up to the consolidation at the centre of the impulse leg up and make a new high. Buyers try to step up, break outs get washed and pulls back to re-test the minor confirmed low. Price finds orders and begins to consolidate, sellers press price into the buyers, they try to hold and expand up into the press before getting rejected with a WRB gap down. Minor confirmed low gets washed, price expands into the relative major pullback and zooms back through the sellers to land on the backside of the WRB gap down.

Trading the major impulse leg back to balance. Push of the press up