Crude Oil Strategy
The overnight proved to be a release of many hedged positions off prior term structured prices. It also looked like that whatever selling was being done, it was finished before the delayed report here on Thursday. 51.25/30 proofed to be a strong area support before and after the report. Shorting the sell line area was a mistake after learning of the quick rejecting than establishing the long on the break of the neutral zone low.
As discussed in the video all positions are closed. We are waiting for results for the end of the day and what effects the EIA reports had on the markets. We will study and execute potential energy spreads going into tomorrow if favorable.