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NJby u/neha_j·6dDiscussion

Watching Crude after the OPEC+ meeting today

The $CL bounce back to $69.79, after touching $71.56 earlier, looks like it's trying to find a footing. OPEC+ playing it cool with production cuts into next year, which wasn't a shock but didn't give the bulls much to run with either. The market's reaction feels a bit muted given the headlines.

Still, crude under $70 and the upper band of the daily range at $71.56 holds a lot of sellers. It just reinforces my lean towards shorting any rallies up into that zone, especially if we get another attempt tomorrow. Not looking for a massive crash, but the upside seems capped for now unless something fundamental shifts on the demand side.

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