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quantguy
Nov 1, 2022 1:56 PM

Oil Makes Another Run for the $90's Long

Crude Oil FuturesNYMEX

Description

Oil found support at $85.55 exactly as we had expected. We saw a nice pivot after that, which took us back near the $90's. We came just shy of our target at $90.06, where a red triangle on the KRI has confirmed resistance. The Kovach OBV is relatively flat and we will need more momentum to come through for us to be able to solidly break into the $90's. If we retrace, $85.55 should hold for now.
Comments
TheTradersAvenue
Nice setup,thanks for sharing
quantguy
@TradingAxis, thanks for reading!
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