Oil is spending some quality time debating the value at $48.95, a few ticks higher than yesterday morning’s location $48.81 (it moves). Bulls might be able to use the mini failed auction that occurred this morning at 2:45am when price slightly exceeded the prior session low, was met with no order flow, and sharply turned the bend.
They might, but these VPOCs tend to be muddy areas due to the heavy volume. Anyhow, here are my levels:
