Crude through support on 240, now final support on daily

A few days ago i posted this 240 chart of WTI futures. We subsequently broke through support and now sitting at support on the daily which as you can see has a long standing up-trend. Wouldn’t be surprised to see a small bounce of $1.50 here, tagging the underside of the previous support as resistance (lower green line.

Good for a trade but probably minimal upside. Cheap, short dated options, holding 5-7 days probably not bad choice if one were inclined.

Crude Oil Daily


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