Oil $3 Drop! What's Next?

Thursday August 3rd Plan

Aug 02, 2023

∙ Paid

Wednesday Recap:

Crude Oil had an intraday high of 82.39 and a low of 79.02. The day's range was $3.37 (yesterday’s was $1.62), and price saw huge bearish momentum, fueled by strong selling below the 82.50 level. The coming day’s are going to be important as we want to see if this momentum will persist.

When a daily pivot is broken in such a manner, as discussed yesterday, it provides a clear indication of the strength of the bias that lies ahead.

WTI daily:

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