by Moneymiser21
The oil market appears to be under a spell from the witches in Shakespeare’s Macbeth. They’ve cast “Double, double toil and trouble,” and a trading fire is burning in the cauldron beneath the surface of where most home traders look.
WHAT’S NOT ON THE MAIN CHART
1 – The current front month contract for WTI (/cl) oil futures will flip in two trading days, as March contract futures options expire.
Leading up into the end of last week’s trading, the March contract still showed a slight price discount to April. This is commonly known as ‘contango’ in the commodities market and is considered the ‘normal’ mode of operations.
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