Oil Clinging to Lows

12 Kas 2021

Oil has dipped to the lower bound of its broad range in the 80 handle. We have broken through a series of levels in the low 80's, and are clinging onto 80.00 by a thread. We do have a series of green triangles on the KRI suggesting support here, but the Kovach OBV is dipping suggesting that we are still quite weak. If 80.00 does not hold, there is a vacuum zone to 77.56. If we catch support at 80.00, then 80.70, 81.30, and 82.13 are all targets to consider from above.