Jun 082016
WTI oil futures climbed above $50.75 on API inventory draw-downs, the highest price since last July. There will be a lot of interest in today’s 10:30am EST Crude Oil Inventories report. The ES is not showing the same strength as oil as it waffled around yesterday’s 2110.25 settlement price overnight after decent UK manufacturing numbers brought out some bulls. Volatility most likely will be muted today unless the current 2107/2018 ES consolidation range can be broken and cleared. Size bias is short into the US open on light volume.
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