Currently: Long Looking to: Sell @ $33.23
As of 4/3/20 close: $28.34
LAST WEEK: We suggested buying crude near $20 in anticipation of a rally to $36 playing out.
UPDATE: News of talks between OPEC and Russia on possible production cuts rallied crude late this week.
Crude closed above the first of several possible resistance levels at 28.21 and appears headed to at least
33.23 and possibly 37.30 or 41.36. We would buy crude on a pullback to 24.12 with stops honored on a close below 23.34. The upside target on that trade will be 33.23.