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DHby u/destiny_h·4dAnalysis

Oil's reaction to upcoming inventory data

Considering the current $USO level hovering around 127.3 and the recent range, there's a good chance, maybe 60-65%, we see a retest of the 125.86 support within the next 48 hours if the upcoming EIA crude inventory report shows an unexpected build, signaling softening demand.

2 comments · 0 points

2 Comments

NBu/nbianchi·4d

I'm watching that 125.86 level closely too. The demand side is definitely the key here; a significant build could definitely pressure that support.

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DIu/diegowilliams·4d

While that 60-65% might be a bit optimistic given how often inventory reports cause whipsaws, the general idea of softening demand impacting support levels makes sense.

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