Crude Oil

CLZ20

Oil is in the DEC. contract now and the story is the same, the bottom end of the trading range is 38.2% back to the 4/22/20 low, this is 37.00. The upper end of the range is up against the 200 day moving average and 61.8% back to the 8/27/20 high, this is 41.50. Until they can get a couple close's above the high end of the trading range at 42.02 look for a retest of 37.00, above it the target is 51.00. With a couple close's below 37.00 the target becomes 32.50.