Technically, I still see this as a channel breakout. However,
there is alot of Supply, as you pointed out, at around $84.
I am inclined to take some off the table on Monday unless events
take over. Everyone is expecting Oil to top out here around $84ish
and then head down towards $70 again. I can't hep but think there
is a Contrarian play here. So perhaps, continue to trail up is my
approach
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Oil is moving more this
Buckle Up
Posted by vimal on 19th of Jul 2026 at 07:54 am
Oil is moving more this weekend(+1.9%) relative to US30.....but of course news driven. https://www.ig.com/uk/indices/markets-indices/weekend-oil---us-crude. Also the weekend betting is kind of a 50/50 unless the move is on the back of some material weekend news.
Technically, I still see this as a channel breakout. However, there is alot of Supply, as you pointed out, at around $84.
I am inclined to take some off the table on Monday unless events take over. Everyone is expecting Oil to top out here around $84ish and then head down towards $70 again. I can't hep but think there is a Contrarian play here. So perhaps, continue to trail up is my approach