Crude Oil Sends Powerful Signal.

The West Texas Intermediate Crude Oil market has fallen rather significantly during the trading session on Thursday to reach towards the $75 level. The $75 level of course is an area that has been important more than once, and recently offered a bit of a “ceiling in the market.” That being said, the market bouncing from there should not be a huge surprise due to the fact that the market would have a certain amount of memory.

Hello ForexForum,

I am not seeing clearly that theory that markets have memory. Is memory what makes prices move, or you can't find a more technical explanation? I don't see as well what you mean by a bit of a ceiling. More, what makes you think that WTI has returned to around $75 is just because it is been there in the past? Have you heard about retracements, liquidity pools and stop loss hunting? Probably not much, but please do try to improve your discourse. Thank you.

Thank you so much for your opinion.