Mar 31, 2016, (9:31AM EDT)
European markets and U.S. stock futures have been trading negative as Oil futures turn choppy and trade below major support levels.
Crude Oil futures have been swinging above and below $38 and this level has been posing as a major resistance now. Right now, Crude is trading just above this level and if Crude once again tumbles below this level then U.S. markets could also come under selling pressure.
Yesterday, major indexes had seen that selling coming in at day’s high levels, indicating that traders are not enthusiastic about buying at current levels, so a correction is expected.
Watch for signs of that correction and Oil prices and trade with the trend.
Good luck, enjoy the session!