With no US data and the entire world talking about Silver leasing rates, Spot Brent was pretty quiet. Having said that, the backdrop of credit market problems, regional US banks in trouble, CRE haircuts should have kept the markets trending downwards.
The long wick down to $60.40 forms the basis of a bear flag and only above $64.20 would negate this.
We’re staying small short, hoping for a big move.