$80 Oil was short livedWelcome back to having the US influence our trading day, one thing is clear the US traders are pushing down hard wiping out earlier gains with Oil. Right now we are heading towards $78 Oil dropping $2 from the high but we knew that this was coming and that Oil would top out after China reopening worked its way through the markets so now where does Oil head, there's been a lot for the markets to digest this week and Wed there a full day of US data continuing into Thur. If Oil closes under $80 that might signal a slowing in this rally with 3hrs to go anything could happen. My bullishness faded through the day after DD at the latest.
Economic Calendar (tradingeconomics.com)