Blind Squirrel Macro

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Have we been crushed enough in crude?

www.blindsquirrelmacro.com

Have we been crushed enough in crude?

Tuesday follow-up, March 28th 2023

Mar 28, 2023
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Have we been crushed enough in crude?

www.blindsquirrelmacro.com
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Monday’s 5% one day up move in crude oil prices have certainly caused the “US$200 WTI” crowd to re-emerge from their parents’ basements! It certainly got this little 🐿️’s heart racing. An exciting move, but the chart has PLENTY of work still to do. WTI spot is still US$12/ bbl away from its 200-day SMA (purple line below) with a chunky volume profile (blue and yellow bars below) a few dollars above acting as firm potential resistance.

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