Crude reached our target of 33.80 and made a very nice bounce all the way to 38.22.
There is a very short term upside target of 40.45
A close below 37.01 gives a sell signal.
On another note as today are the US elections and all eyes are focused on the financial markets:
I’m not sure if Trump or Biden is good or bad for the market.
I think the market can be happy with either … market thinks
Biden will deliver bigger stimulus (good for market) but will also raise taxes (not so good).
The market wants certainty and the biggest risk is a contested election where the winner is not known for weeks or months.