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WTI Crude: Daily TPO & Price. 05Feb
As of 730CST, the market has auctioned above Mon Settlement, 96.17s, rallying up to the key breakdown level, 97s, overnight inventory long.
Sellside response at the key level 97s is key. IF sellside defends at/near 97s, probability favors price discovery toward 95s. IF sellside fails to defend at/near 97s, then short covering potential back toward key intermediate high at/near 98.20s.