WNR 17.6 range is the first initial support. Note that this would be the first test of the 20sma this year.
TSO first support near 26.75
And HFC first support near 32.8
If they aren’t clearly trending down (following 20ema on 5 min intraday chart) we’ll try all three for support long buys, either a) waiting for reversal before entry with stop on low or b) bidding the aforementioned spots with around 0.5% stop.
To put it simply bullish would be a bounce on the zones given in this post, and bearish would be no reaction on these levels as buyers shy away from initial support.
Refiners can sometimes act as decent market tells and with crude approaching $110 and $SPY at resistance we’re on the look-out for the possibility of at least a pause in the music. Keep your eye on that empty chair.