This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil , only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil ;
In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed.
For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand.
Thanks as usual for keeping the feedback coming 👍 or 👎