Thoughts on WTI's Range-Bound Drifting
It feels like WTI is just drifting aimlessly within its established range, and I'm seeing a lot of analysts clinging to various lagging indicators to call for a definitive breakout or breakdown. Personally, I'm finding more utility in just watching the intraday price action around the key S/R levels. We're seeing whipsaws but no real commitment, and the macro picture still feels too murky for a strong directional conviction. It reminds me a bit of the early days of $RBLX after its initial run-up; everyone had a strong opinion but the price was just chopping. What am I missing here? Is anyone actually seeing conviction in the data, or is it mostly just noise at this point? Push back on this if you're seeing something different.
I'm with you on the lack of conviction. It feels like everyone's waiting for a catalyst, and until then, those intraday levels are probably the most reliable for short-term trades.