Crude Oil Futures (Jan 2024)
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USOIL option sentiment based on CME data analysis

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A big "butterfly" was detected in the January oil contract, which is a directional strategy with a target of $90, also known as the previous local maximum.
It's important to note that this strategy appeared after a 4.7% decrease and when the 90 price was significantly lower and oversold for our mysterious participant, let's call him "X".

*********To summarize, such a situation can be interpreted as clearly positive. However, it is worth waiting for additional confirming factors. Do not hurry to open longs right now!

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