There is an aggressive buyer of oil who inhabits the region below $48.75. He is awake early in the morning and perhaps operates from outside the United States. Two times he has made his presence known at these prices, once on 2/5 and again late yesterday morning. For now, we shall call him Lawrence.
If he is to defend his position, then it should appear that any advances upon his territory will be met with defense. But his adversary is emboldened, they have power in numbers and have pressed their ranks closer, their camp is just above at $51.
Let’s see who blinks:
