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WTI showing some resistance at 80
Watching WTI closely here; we've seen a pretty consistent rejection around the $80 mark for the last couple of weeks. It's not a hard ceiling by any means, but the multiple touches and pullbacks suggest there's some serious supply coming in at that level. I'm keeping an eye on whether it can consolidate above $79, otherwise, a move back towards $77-$78 seems more probable. The risk, of course, is a strong geopolitical headline or supply disruption that blows through $80, but absent that, the technicals are looking a bit heavy up here.
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