Crude Oil trying to turn the tables (Aug. 12, 2022)

CL is trying to leave the 6-month lows well behind. To signal that good days are ahead, it needs to solidify trading above $93/bbl thus turning a crucial resistance into support. Anything less will speak for a resumption of the downtrend on the daily.

Disclaimer> This post is purely informational. It does not constitute a trading or investment advice. Financial markets are inherently risky. Honor your risk management decisions.