Oil's getting hammered — down 3.6% and tapping $87.50 again. That's the third touch in four sessions. Support's there, sure, but I'm not buying a level that's been tested this many times in a row. It's worn out.
Looks primed to crack lower soon. If $87.50 gives way, next stop is $80 — that's where I'd consider a day trade bounce. Until then, yellow line overhead is resistance. No chase, no hope — just wait for the break or the bounce.
Looks primed to crack lower soon. If $87.50 gives way, next stop is $80 — that's where I'd consider a day trade bounce. Until then, yellow line overhead is resistance. No chase, no hope — just wait for the break or the bounce.
