Daily Crude Chat

again, 22 short and out 06, clv24

 

Short
break down Pattern(220) with increased supply.

 

closed q and open u shorts

 

flat all shorts aveage around 77.50, $3.8 profit per contract.

 

#CL Long
Yesterday, after the activity of sellers in the premarket, they could not push the price further down. Several times Lows (pattern 2107) was updated, but the demand was constantly increasing and returned the price to 75-75.2.
Supply dried up.

 

i don't see a $6 bounce opportunity so sit tight and sell 72 puts

 

Short
premarket: Buying climax, Supply is increasing, new Highs and Demand is drying up.

 

A news article associated with the oil market...

Oil price surges after assassination of Hamas leader in Iran, sparking new fear of war and inflation
https://fortune.com/2024/07/31/oil-price-brent-assassination-hamas-ismail-haniyeh-iran-israel-gaza/

 

Short
Demand has no result.
I indicated that before the US session, the price could trade in the range of 78.3-78.8

 

done. reopen short cause Supply is dominated.