In previous videos, we had defined $80 WTI as our floor over here.

Today, that got tested in an interesting and volatile session for oil.

We had a flurry of seemingly negative rhetoric, from covid cases rising to Schumer asking for more dumps from the petroleum reserve.

However.. let's go back a little bit in time.  We've already dumped 20m barrels onto the market. They market then hit new multi-year highs.

We had yet another wave of covid, and the oil market quickly hit new multi-year highs after a sharp panic decline.

I believe these two forces may yield yet another similar result, and by having this knowledge, we should sit tight regardless of what happens, and take advantage of any dips.  But maybe the market won't be spooked this time.

We'll see what happens.