Zoen_Trieste
Long

CLQ0: Mapping Bullish Continuation

NYMEX:CLQ2020   CRUDE OIL FUTURES (AUG 2020)
Further to the earlier ideas on the August delivery contract, I would like highlight the fact that it has now become the front contract of the Crude Light futures curve, and that it did so while being traded at plus 100% from its YTD low. When the June delivery contract went into negative, this contract was trading at around $20/ bbl . Two months later it is trading above $40/ bbl and seemingly bulls are still very much confident in their holdings. Buying the dips towards the 150% area from YTD low seems reasonable. This would mean another 25% gain from $40/ bbl . The chart shows all of the relevant details on the above.

Comments

Interesting!
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@kweiss Karlito, hope all is well.
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kweiss Zoen_Trieste
@Zoen_Trieste, all good, bro! hope things are great on your side too. I am killing it in forex ATM. been away from CL
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