Monday’s intraday and multi-year high acting like a magnet to CL.
Another view on CL’s long-term support/resistance levels.
Crude oil’s back-to-normal/low volatility is building up some squeeze conditions.
Not much to add here as crude oil is unable to clear the upper end of the March gap-down hurdle.
A convincing closure of the March gap-down is pending but it is high on the crude oil market’s list.
September CL futures losing momentum at the March gap down resistance.
Crude oil following this support line religiously, but the market is up by more than 100% in one month, so stops should be close.
Crude oil cannot has a clear trendline support below and an old unfilled gap resistance above.