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BRENT and Crude Watch - Any signs of topping?
Watching $BRENT today, sitting around 71.94 after that run; feels like we could be seeing some consolidation or even a top here if demand fears continue to outweigh supply cuts. Might be time to look at some energy shorts or at least lighten up on longs if this level doesn't hold firm and we start retracing.
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I'm seeing similar patterns. The demand side is definitely under pressure, and if that trend continues, the supply cuts might not be enough to sustain these prices. I'm curious if you're looking at specific indicators for a top, or more at the macro picture?