Massive sell of Crude post US CPI data - 12 December 2023

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News Based:

  • Post-CPI Inflation data 3.1% rise in November YoY - Massive sell-off of Crude was seen.
  • Higher oil prices contribute to inflation directly and by increasing the cost of inputs.
  • Hence, we can see a massive crude oil sell-off.


Technicals
  1. 5755 is a crucial level
  2. if Crude sustains below we can see a massive downfall as seen in the image
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NOTE: Options expire on 14th December and Futures on 18th
Nota
5700 PE premium went from 68 to 76
Nota
Trailing
Crude OilHarmonic PatternsTechnical IndicatorsmcxcrudeoilTrend Analysis

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