Crude Oil has an expanded range from 78.36 to 80.48.
Sellers have been roundly pushed back as CL would simply
collect the energy and grind higher.
API Today and EIA T0morrow will provide direction, the
Gap remains overhead and should be filled.
Rates have had a mild impact on CL, as has the DX.
___________________________________________________
We currently hold no positions and are awaiting the next break of 80
or support to trade to consider a Position.
The Weekly and Monthly ranges are quite large and have us squarely
on the sidelines while the Indices are providing greater Velocity
Intra-Day.
Should TNX backtest the breakout, we will be closely watching the
reaction within Energy.
NG came up nicely off its 3.50/3.70 range to move back over $4.
RBOB remains in a larger Range and is becoming a leader in the
Energy Complex into March as reformulations begin to gain momentum.
Sellers have been roundly pushed back as CL would simply
collect the energy and grind higher.
API Today and EIA T0morrow will provide direction, the
Gap remains overhead and should be filled.
Rates have had a mild impact on CL, as has the DX.
___________________________________________________
We currently hold no positions and are awaiting the next break of 80
or support to trade to consider a Position.
The Weekly and Monthly ranges are quite large and have us squarely
on the sidelines while the Indices are providing greater Velocity
Intra-Day.
Should TNX backtest the breakout, we will be closely watching the
reaction within Energy.
NG came up nicely off its 3.50/3.70 range to move back over $4.
RBOB remains in a larger Range and is becoming a leader in the
Energy Complex into March as reformulations begin to gain momentum.