How Algorithms Trade Oil Up to 70% of the volume in commmodities and equities trading is generated by computers programmed to trade whatever underlying their owner sets them to work in. If you know how the majority of these algorithims work you can follow the market moving money. Here is one of the technical indicators they use to target selling and buying points. The news and fundamentals that can push or pull the direction the computers were going but the technical programmed variables help direct the extent of a current direction or where the indecision and reversal points are likely to be. When enough algos and people are programmed the same way that is what makes expected future price action more probable.
Most people have charting software and some have pivot point indicators. There are different versions calcualted different ways but they all are based on the price action from the prior day. You have to match up the different studies with what you are tading o see whay fits the best. For oil the algos buying mostly correlates with this one:
https://tlc.thinkorswim.com/center/charting/studies/studies-library/O-Q/PivotPoints
Here's what the last 4 days looked like showing the pivot points and oils price movements.
Even though the levels might apear to have been drawn after the close of each actually all of these lines drawn by the charting coding software from the data from the prior period. So the pivot points for tomorrows oil trading are now on the chart and can be used to trade tomorrows price action. You have to study what the different colors and levels mean and how price reacts around these levels to help with your trading. It's worth the effort IMO.