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What a call ! We bounced right off the 2924 level.

Wow - a lot of drama at this 2934 level !

10 pt PB from 2944 HOD. Is that deep enough ?

Strange....my source is indicating spot WTI at Cushing, OK to be $14.24.

Yes, interesting market....lots of drama right now. Day of reckoning coming up for settlement of the June contract.

Crude oil finally finding some support around the $14-$15 level on news of production cut-backs. https://www.worldoil.com/news/2020/4/29/oil-prices-rise-as-production-cuts-begin-worldwide Expect volatility to continue as funds bail-out of the June contract. EDIT: make that $16.....it just jumped...

Exactly. Once systemic bankruptcy's start, it's going to be unstoppable....even with the Fed's support.

The crude oil market remains very emotional...there was a burst up to CL $13.46 near the daily close today. That went to clear out some of the short sellers. After the 6 pm re-opening, we immediately went down to the $12.70 level. Bottomline : June CL is trying to find a fair market value in...

Agreed. This market just refuses to crater.....even in the face of horrible economic data and conditions. Bottomline: It's all about the Fed. Note: Fed day tomorrow.

FOMC Meeting outcome....https://www.ft.com/content/116aa6f4-274b-4d90-aaa5-cda845931366 Will this spark ES up even further ?

I believe ThinkorSwim has also prevented trading in CL futures.

You are correct as long as the price of June CL is below $12.50. Current Interactive Broker's margin is $12,500 per contract. I believe other broker's margin requirements are much lower.

LOL. Every dip has been bought in CL today......not sure if this is new buying or short covering. However, to spark this market, it will take an announcement or some good news.

June CL stayed out of single digits in after hours trading.....barely ($10.07). It has now recovered to the low $13's...and indeed just made a new HOD. Crazy market for sure.

June CL trading between 13.00 and 11.80 today after a 20+% drop in the night session. This contract is likely destined to the single digits before settlement. However, there is Trump, OPEC, the Texas Railroad commission all ready to come out with statements that will burn the shorts. Beware if...

Nice hold....you really took some heat on that trade.

DTN IQFeed shows 2883 as HOD at 15:50 pm.

Spike to 2883 after the NYSE MOC report was issued. 2885 looks imminent.

Alternately Jogging and stationary bike. Really miss the gym.

Totally agree. The news on USO and their re-balancing efforts is just hype. The basic supply/demand situation hasn't changed at all. Nonetheless the market remains volatile due to potential announcements from Trump and the Texas Railroad commission. Expect June CL to remain a wild ride until...