quantguy

Oil Makes Another Run for the $90's

Long
NYMEX:CL1!   Futures Petrolio Greggio Leggero
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.

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