We confirmed $65 held now Oil needs to find ResistanceOil hit $65 yesterday retesting it again today but now Oil needs to find where it's going to trade until this financial crisis has clarity for all aspects and that is the one main driver for Oil right now keeping downward pressure but Oil is trying to find out all these new limits as this is the first time that Oil has been this low in 2yrs it's writing the book as we go. All the swings with Oil since yesterday has us now sitting at $78.50 where we closed yesterday however we could be in this trading band till something gives a reason in breaking through. $65 was held today so let's hope that no fireworks happen overseas tonight as the decision will need to be made before the weekend for Oil. If Oil breaks through $79+ stays great, but if Oil gets hammered down overseas another test at $65 could prove fatal it all has to do with overseas activity, and where they want to close Oil at, and hopefully the bulls push back.
$69 - $65 we'll see it this is a proven band tomorrow. hopefully, it's at $69 after this post.