CL_F: Oil has been an Interesting Proxy
Hello everyone! Today i want to share some technical analysis with you!
1.
$WTI Crude Oil - main 2508(CLmain)$ Oil has been an interesting proxy on how things are playing out in the Middle East.
Oil just tanked and bounced right at the May 5th pivot VWAP. Will be interesting to see if things escalate again and if this ends up being an important bounce spot.
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This is the kind of that just makes this market extremely difficult to navigate when you have no idea what is actually official vs not official.
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