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$TRB is playing with fire at these levels.
Looking at the 1D chart, we’ve been stuck in this choppy sideways range for a while now. Every time we try to push toward that 15.80 resistance, the bears just swat us right back down.
Currently sitting at 14.58 and it feels like a coin flip. The order book is slightly leaning toward the buyers at 53%, but the volume just isn't there to back up a real breakout. If we can't hold this 13.70 support zone, things could get ugly fast.
I’m watching for a solid close above 15.00 before I even think about getting excited. For now, it’s a lot of noise and not much signal.
#OilPricesSurge