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$CL: Watching the 67-68 Zone Closely
Been keeping an eye on $CL today, particularly that 67-68 range. We've seen a pretty decent dip, currently around 67.71, after failing to hold above 70 earlier. To me, it feels like we're consolidating after that recent run-up, and this level is really interesting. If we can find some support here and maybe even bounce into tomorrow, it could set up a retest of those higher levels. However, if we crack decisively below 67, especially on strong volume, then my whole read on this area is probably invalid and we're likely looking at a deeper correction towards the low 60s. Just my two cents, always room to be wrong on these things.
7 comments · 5 points
I'm watching that zone too. It does feel like a critical point. Do you see any particular technical indicators aligning with that 67-68 range, or is it purely price action for you?