DislikedWTI Pivot/ PA looking to approve of trade. Of course anything can happen. I do follow and trade oil. Pivots work well with it. My bad if WTI not supposed to be posted. But usually most forex people trade FX/Oil/Metals. I'm in 100% support not to trade CHF. {image}Ignored
Domestic crude production is at an all time high and will probably go higher at these price levels.
Refinery inputs is down and will probably stay lower until the Gasoline and Distillate levels drop (stock levels are high)
Net imports are slightly down.
My own interpretation is that oil is close to a top as inventories will probably stay high and I am willing to short at these levels. My TP being this weeks pivot.
Please note that I am a retail trader and this is only a general overview.
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