CL - 1 HourCL was covered over the weekend.
As indicated we are Energy Buyers at levels, in particular - CL.
We believe it will ret-test its 148.20 Level and eventually exceed
it by $100.
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IF the recent Low was the Fill into a new Uptrend... oh my that would
be something surreal for Oil.
I've laid out the OIL Complex Strutuce Fundamentals, which Longer Term
are going to see Extreme Imbalances driving Price.
It is merely just the beginning of Oil's Trade.
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For now, we have Sold our Position and are now back to flat.
Waiting for further Price movements to decide based on how it reacts
at Levels.
CRUDE OIL remains in an enormous WEEKLY/MONTHLY SELL Setup.
CL is approaching Resistance @ 82.66 - We are watching intently...
It would be stunning to see it move up dramatically, completely unexpected
by Price Action...
It gets more interesting each and every day.
Hopefully far lower fills for 2021/2022 - but anything can happen when the
this breaks.
