Oil may have a pressure point most traders aren't watching yet.
The current supply shock could start fading if Europe releases part of its reserves.
That would change the short-term balance between supply and demand—and crude could see another move lower.
The level to watch:
Below $90
If Brent and WTI start losing momentum around that zone, the market could shift from supply-fear to supply-relief.
$CL $BZ
#Oil #CrudeOil #WTI #Brent #Energy
The current supply shock could start fading if Europe releases part of its reserves.
That would change the short-term balance between supply and demand—and crude could see another move lower.
The level to watch:
Below $90
If Brent and WTI start losing momentum around that zone, the market could shift from supply-fear to supply-relief.
$CL $BZ
#Oil #CrudeOil #WTI #Brent #Energy
