PivotBoss Crude Oil Analysis

Dissecting Crude Oil’s Big Day

Crude Oil had a huge day Friday, boasting a 4-point trading range and even had some after hours fireworks. Here’s a look at what happened to cause the rally into 48, in addition to a look at the footprint and VPOC cues that helped identify late-day weakness.

Futures Market Analysis

Premium CL 01.30.15

Crude Oil is currently seeing a lazy breach of the bottom of the key range, and closed below the 44.68 prior low, which implies further downside price discovery toward 39.85. Bulls are still defending 44.20s for a shot at squeezing bears through 45s and into MCVPOC at 48.