Oil at key support area

5 באוק׳ 2023

There is some consensus that the oil trade is over. I'm watching this last area of support before coming into agreement. Price fell through the VWAP anchored to this summers breakout and wicked down to test the VWAP anchored to the June 2022 high. As long as we are seeing price close above this level I will lean toward this being a correction to an uptrend.