cwmetz

#WTI poised for higher

Long
NYMEX:CL1!   Light Crude Oil Futures
#WTI #oil futures has been my favorite trade over the past few days. Technicals and fundamentals are lining up for higher prices. The fundamentals story is pretty simple...we are coming into the summer and COVID restrictions are lessening...so demand will be greater (and likely a greater rate of change than many previous years). On the technical side....it finally broker out of consolidation....retested lows with a slightly higher low and rocketed higher. My #Elliottwave count shows we are in the 3rd wave advance....usually the best wave to be in.

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