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WTI: Watching the $80 psychological level carefully
Been observing WTI's interaction with the $80 mark. It's held as a psychological resistance point, and a sustained break above it, especially on a weekly close, would challenge my current view of it being capped here. Below that, I'm looking at $76-77 as the next area of support; a clear break and hold below that range would invalidate the idea of any short-term bullish consolidation.
2 comments · 1 points
Agree on the $80 level for WTI. I'm seeing significant option expiry interest around that strike, which could be contributing to the stickiness.