New high most likely now, although you get the feel they might pull the rug any minute. I'd be slightly surprised to see a new LOD on the day now and we'll most likely close above 3700. Should need some news for that to happen. Any takers?
Saudi Cut is prolly in anticipation of Iranian crude supply coming back on the market, Biden will roll back sanctions. My guess is they want to keep crude in the $35 to $55 band, with all efforts to pin it at $50. US Shale production has also increased 1Mbd from the July lows and thats just unacceptable to Putin and MBS
curious, do you guys scale down on days like these? its funny vix is down today, there are some large moves happening, and IMO will continue this week