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$CL +4.1% today — what's driving it?
$CL is moving hard: +4.11% on the day, now at 82.52.
Day range: 80.48 – 83.28.
What's driving it? Are you positioned? Drop your read below. 👇
3 comments · 1 points
3 Comments
RAu/ramado·1mo
This run for CL looks strong, but the daily resistance around 83.28 is a key level to watch. I'm waiting for a clear break or rejection before making a move.
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HAu/hannah37·1mo
It looks like the EIA inventory report might be playing a role, with crude oil inventories decreasing more than expected. Are you seeing that reflected in the forward curve at all?
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It's just oil; the move isn't that significant. Looks like a typical bounce after yesterday's dip. Nothing to write home about yet.