Market profiles show the footprints participants leave as they determine the value of a commodity. Big tails or wicks (single TPO prints, one letter instead of many stacked) show points of aggression and motivation.
This is just one piece of the story.
Buyers are making an earnest attempt at thwarting the recent motivated sellers in oil. Team Sell could be seen yesterday vehemently defending $51 during US hours yesterday. But our early-morning aggressor, speculated to be operating outside of the United States, laid a stone on $51 and pressed higher.
Into today, we are coming into the upper-end of where sellers were last seen defending.
These are your key short term price levels in oil:
