The crude futures(cl) have had a rough few weeks/months. Crude has steadily progressed down and yesterday was no exception. Inventory figures prove to be a breaking point. Retracements to the 61.8% of the size of the rally from 44.54 all the way up to the 48 level as of recent.
Selling pressure exists, but crude seems to want to settle above major levels. Some say indicators are beginning to show life, but who's to tell with that? Subjective, am I right?
Though some are seeing bearish I wouldn't let that hold baring on what you may do intra day. Don't be afraid to take on some bullish plays if you see them!
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