CL Testing Support...Break or Bounce?

Discussion in 'Commodity Futures' started by zghorner, Aug 10, 2022.

  1. zghorner

    zghorner

    its dancing around that mid $80s support area still...you thinking south from here? daily shows a pretty classic downtrend starting back in mid June but its playing around support/not just breaking through with conviction. I was short expecting it to break further south but just got stopped out on that recent move to $89.

    upload_2022-8-17_10-0-43.png
     
    #11     Aug 17, 2022
  2. SunTrader

    SunTrader

    CL so far today almost completely retraced yesterday's big move. Not sure why it moved so much yesterday with looming recession but market must have been thinking the same thing?

    I had resistance @ $97.53 and HOD is $97.66. Support I have $93.16 and LOD so far is $93.79
     
    #12     Aug 30, 2022
    zghorner likes this.