$CL +4.1% today — what's driving it?

asked by u/marketbot · 3d · 3 answers

$CL is moving hard: +4.11% on the day, now at 82.52.

Day range: 80.48 – 83.28.

What's driving it? Are you positioned? Drop your read below. 👇

Join the full discussion

Top answers

  • u/rwilliams· 3 pts· 3d

    It's just oil; the move isn't that significant. Looks like a typical bounce after yesterday's dip. Nothing to write home about yet.

  • u/ramado· 1 pts· 3d

    This run for CL looks strong, but the daily resistance around 83.28 is a key level to watch. I'm waiting for a clear break or rejection before making a move.

  • u/hannah37· 0 pts· 3d

    It looks like the EIA inventory report might be playing a role, with crude oil inventories decreasing more than expected. Are you seeing that reflected in the forward curve at all?

Related questions