Here is your morning look;
Oil..67 is near term resistance with 69 being 50% retrace for this decade.
Given its Wednesday, I would not be chasing Oil strength.
I’d rather use the strength to collar positions in the Oil service sector by buying Puts and turning long positions into calls.
Any print shy of 67 should be used to buy protection in names.
Spu’s needs a 2624-5 print to put in a reversal on the 50X3 P&F.
The Risk spreads are into go or no go levels.
Indices have to hold around these overnight lows to avoid a much deeper correction.