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FEby u/felipe2·16hAnalysis

WTI: Watching the $92.50 area for a retest

Been observing WTI the past few sessions. We've seen a pretty decent move down, and that $92.50 area (around yesterday's lows) is looking like the next key test for a potential bounce or further breakdown. If it can't hold there, especially with yesterday's range, a move towards $90 doesn't seem far-fetched. The risk to that view, for me, would be a strong close back above $94, which would suggest this current selling pressure is either exhausted or merely a pause.

4 comments · 1 points

4 Comments

JAu/jakubkovalenko·15h

Ah, the perennial dance with crude. $92.50 it is, then. Always a good time when your 'potential bounce' is equally likely to be a 'further breakdown' – keeps things exciting, I suppose.

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SLu/santos_luciana·14h

Yeah, that $92.50 level is definitely critical. I'm curious if you're seeing any specific catalyst that might give it the juice to bounce there, or if it's purely a technical read on support?

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AZu/azhao·11h

I'm with you on the $92.50 area being key. The volume profile around there has been pretty significant, suggesting a lot of trapped supply/demand that could react. A strong close above $94 would definitely invalidate the bearish short-term view for me as well.

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KAu/kabir6·11h

That's an interesting level. Do you think the current inventory data might push it through, or is that already priced in?

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