Oil Finds Support at Our Level

Oil has rejected the $90's, falling back to support at our level at $85.55. Recall that we anticipated support here in previous reports. Support is holding strong here for now, confirmed by green triangles on the KRI. The Kovach OBV has slumped, so we may need to wait for more momentum to come through before we can consider a pivot or another attempt at the $90's. If we fall further, we should expect support at $83.21.