CL follows it's own indicators ( geo-political , hurricanes etc.. )on certain days but other days it looks forward to equities and EURO/USD ..
I think today is that other day .
anyway Thrursday 70% of day volume is around 111.50 , so today drop is more conforming to that fact ...
today 113 + setup was played well by big boys to trap new Shorts around 112.50 level , very similar trap action played last Monday ...
- day in day out these TRAPS are played with out anybody noticing it till after that fact , that is why we reward these big boys for their skill
now PA hugging around 111.70 , very same action as Thursday , convince many retail traders there is big reistance at 112 , have the shorts lock-in then all of the sudden we are at 112.45 .. we have to amaze at their skill
Quote from Picaso:
A) Stay around here at 1
B) go back to 2 (or a little below, but positive for the day) or
C) new lows for the day, breaking down 111 to say 110.50-ish?