It can be argued that we don't really have a cash gap here today as today's range overlapped with Friday's range. --I'm staying long here.
CL has gotten a bid here as every dip has been bot since the 8:30 am lows of 21.13. Now painting 21.85.
Ya know the beauty of something like oil... and this kinda references that other post where the guy pointed out TSLA at $700 on zero earnings or whatever.... the beauty of oil is it is a true market. If that makes any sense. Saudi, Russia, Opec.... it doesn't matter.. in the end its supply and demand. We'll find an equilibrium soon and it'll go from there. B1 thinking he's gonna get this FANG like bounce back to $45 or even $30 at this point.... is friggin off the charts comical. Anybody thinking that is a rookie. Its not about where oils been, its only about where it is. It does not move like BS overpriced stocks, aside from the occasional news flash that might spook some traders... but it always returns to its equilibrium. We are staying down here in the weeds for the foreseeable future until verifiable production cuts are made and/or the world economies heat up... and good luck with that for now.