October 4, 2024
Join me as I dive into the current dynamics of oil prices, focusing on light crude oil futures. I'll explain why the $71-$72 price range is so crucial, linking it to the anchored volume-weighted average price from the April 2020 lows. This pivotal price point indicates whether traders are profiting or facing losses on their positions, which in turn influences their decisions to sell or buy more. We'll also examine technical indicators like moving averages to assess market sentiment and potential price movements. Don't miss this analysis that could shed light on the next shift in oil prices.
