sp'60min
USO, weekly
Summary
*a notable new cycle low for Oil in the $46s... 45s look due.. which was Carboni's original target from the late summer.
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So... we're on the slide... an 'early Monday morning' washout? ... which was actually something a fair few were seeking.
What matters today is how.. .and where we close.
Those on the short side should be extremely mindful of a late morning turn/floor. As ever.. short stops (of some degree) would be... useful.
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Time to cook..........
10.08am.. market trying to put in a spike floor of 2022. Bears............ beware!
smaller 5/15min cycles are on the low end.
10.26am.. A floor might well be in.... bull maniacs should be battling for a daily close back in the 2040s.
Notable weakness: SDRL -4%... in the $9.50s.... next level... $7 or so.