WTI Up Nearly 30% From 'Black Monday's Low

Oil popping to a 1-month high has traders in awe. Amazingly, we're nearly 30% off the lows from 'Black Monday'.

However, we're nearing resistance. at $49.70, the 55 day moving average. This makes the September Opening Range all the more interesting as the subsequent break out should give us further discussion for setting up a bias.

Please note this is month end and month end on a light liquidity month at that.