Once I heard it was OPEC news related I immediately shorted knowing it was a knee-jerk impulsive move to spike up that hard.
I'm back!! (Who killed this thread?) While making a reply about CL in another thread, I thought I give a brief pointer here as well on where I think CL will likely head in near future. Strictly going by the charts, CL is on the verge of turning the corner. Initially, there will be a retrace back down to as low as 44.50. But once we clear above today's high at 46.80, or at least we close above 46.80, we could see 49.50-ish in a flash. Happy trading, y'all!