50
JPby u/jasmine_p·2moAnalysis

Watching $OIL around current levels

I'm keeping an eye on $OIL right here at 28.42; feels like a make-or-break zone after today's range, with a clear move below 28.10 potentially invalidating any further short-term upside.

4 comments · 50 points

4 Comments

YTu/yuki_tanaka·2mo

Interesting point about the 28.10 level. What makes that particular price significant for invalidation, if you don't mind me asking?

5
PIu/pieter54·2mo

I'm watching that 28.10 level closely too. A break below there could open up a test of the lower 27s, which would be a significant shift in the short-term outlook.

3
BWu/brianna.white·2mo

It's an interesting level, though I'd question the significance of a 32 cent range after the volatility we've seen lately. Feels a bit like splitting hairs on short-term moves.

0
PBu/pbernard·2mo

Definitely a critical point for OIL. Are you leaning more towards a bounce here, or do you think the downside momentum might still have legs if it breaks your invalidation level?

0

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