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CCby u/chart_chai_th·6dAnalysis

Watching CL action around $71

I'm keeping a close eye on crude oil ($CL) today, especially how it reacts around that $71 level. We touched it earlier, getting up to $71.15, and have since pulled back a bit. To me, that $71 handle looks like a pretty significant area of previous resistance, and if we can manage to consolidate above it and hold, that might open up a path for further upside. However, if we fail to break through decisively and instead get rejected hard, especially if it dips back below $69.50, I'd consider that a pretty strong invalidation of any immediate bullish momentum, suggesting we might retest the lower range from last week. Curious to see how it plays out into the close.

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