RE:RE:Big api draw ..for week Well if it goes back up I think $5.47 is tops maybe? Don't think we get new highs anytime soon tho... seems to have closed the gap in that $5.45 range. Overall, I still hold my call we go lower... same with oil. If WTI doesn't hold the 200DMA (I think it will) it's bad news.
I note BTE got rejected at the top of the long term resistance trendline (recent highs connected to previous high tops)... not sure what the driver will be to break through it until WTI confirms solid support at key levels. I suspect BTE drifts lower until then. But I could totally be wrong.
Will hold my new, and much lower :) fomo position. Don't know when WTI will hit support and spike. So will adapt my strategy to just keep buying new lows from here. I want exposure, for now lol.
GL all and apprectiate any technical isights anyone want to put out there.