Front Month Crude Oil Futures Sept.2021 (CLU21)
suddenly have found themselves at an extremely important
point in time and price.
The $70.00 Price Level is Monthly Long Term Chart Price Support
from a "blowoff" price peak of 76.98, front month August 2021
reached just prior to the recent OPEC meeting,
is the "HOLY GRAIL " SUPPORT LEVEL that must hold...
Spreads are complex instruments. This is just an introduction and some ideas to get our brains ticking over. I had started writing a guide to understanding these three types of spreads, but it just got a little long. It might be easier to do it this way:
What do you see above?
Here are some observations to get started:
All spreads topped out well before June...