Then get on board. I mean not literally of course, only futures can solve their little oversupply problem. Let them earn more for their hard extraction job! You could produce full QM's worth of oil for the current spread - such irrationality is hard to come by in bull markets...
50% retracement of the RTH range is 86.50. tlow, when price breaks through previous R and the 20-bar EMA off higher lows, it's a confirmed reversal, hold for more. I think I learned that lesson yesterday when I entered a perfectly excellent trade early on and bailed when I should've been adding
Ya, I think I got an ichy trigger finger when I saw price come back down below the .21-.22 level thinking the breakout may have failed.
When CL was trading at 140, nobody thought it could drop down to 40. Unlike ES, this damn thing doesn't have any cushion underneath in the form of a government support. Can OPEC print money?