Neckline appears to be firmly on place @ 70... unless we defecate the bed on the Globex session... anticipating right shoulder buildout over next few sessions or so.... potential selling should resume on break of NL.... Just as long as we have Vol... Tricky session today with some Jukes ...
https://www.aljazeera.com/news/2020...tary-assets-saudi-arabia-200507183258484.html --- nicely put --- That's it for me for today, good luck to the all-nighters
Now that I'm looking at the volume, that spike at 10:40 looks puny in comparison to MOC volume. Yet it's 2x the size of MOC.
I would be surprised if we see oil higher than 26 by next week. Failed break out today and persistent selling at 26 level. The question is will we see negative price again...
Funny, they immediately started pumping this baby up right after the curtain call. We'll go straight up to 90 and likely higher overnight.