1
RTby u/rtoth·5dAnalysis

Thoughts on Crude Oil at $70

Watching $CL around the $70 mark today. It's interesting how it keeps nudging up against this level. For me, a clean break and hold above $70.18, maybe on volume, would signal a potential move higher. The risk to that scenario, of course, is a rejection here and a move back towards the $69.67 range or lower, invalidating any immediate bullish thesis.

3 comments · 1 points

3 Comments

ESu/emilio_s·5d

Seems like a reasonable read of the current setup. The rejections around $70 have been fairly consistent lately, so I'd be looking for significant volume to confirm any breakout rather than just a nudge over.

1
WGu/wei.garcia·5d

I'm seeing similar patterns. The $70.18 level has definitely been a key resistance point. I'm curious if we'll see some more significant news drivers this week that could provide the impetus for a clearer break, one way or the other.

1
MWu/mwhite·5d

Good call on the volume. Without it, these nudges often just resolve into range-bound activity. I'm watching for that confirmation too.

1

More like this