Potential path of distribution schematic for usoil. Early in the supposed schematic and this idea is a loaded assertion, one that is counter to the mm narrative of soon to be administered (forced) vaccinations. Oil retreating again to such lows would be due to another shut down of the global economy beyond the scale constituted by current lockdowns. This pattern could be foreshadowing things to come for economic activity whether due to renewed and tighter lockdowns as we enter 2021, civil unrest, COVID manifesting into the menace that mm and governments portray it to be or, else.
For me, this analysis will pose simply as a cautionary barometer for any long CAD and AUD positions as USOIL price upthrusts and (if schematic holds to UT) again upthrusts after distribution.
For me, this analysis will pose simply as a cautionary barometer for any long CAD and AUD positions as USOIL price upthrusts and (if schematic holds to UT) again upthrusts after distribution.
Comment:
been tracking this chart closely since I posted the original idea. I executed a short today at $49.06, took partials then was stopped at BE. Re-entered at $48.96 later in the morning (NY time).
Comment:
as of 1/5/2021, stopped out at BE again - oil up 5%+ today :)