CLG24 – February Crude (Last:71.65)

Feb Crude came down hard after peaking last week 30 cents above a level where I’d suggested looking for a set-up to get short. There was no discussion of this in the chat room, so I have not established a tracking position. The nasty tumble is good news for motorists, since it implies that $3 gas will be with us for at least a little while longer, Here in Florida, and elsewhere in the U.S. (although surely not in California), there is a chance that the price of premium gas will fall below $3.  Depending on how sellers handle the 70.34 midpoint support, the weakness could continue down to as low as D=64.49.

  • John December 31, 2023, 8:46 pm

    Happy New Years Rick