Contrarian signals everywhere. Russia is risking being cut off from the financial system. This could essentially wipe out the bid for oil as then no one in their markets could access those bids. A large % of the oil market will go offline so I would think we could expect at least -30% decline.
i might say something really stupid, but if it's out of the market, doesn't that mean a shortage and therefore higher prices ?
MonetaryRebel
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@GuillaumeRpn, Haha, you're alright. I definitely see what you mean and that would make sense. I'm a bit of a contrarian however and the media narrative is that oil is going to keep going up but the charts are saying "pullback soon".
GuillaumeRpn
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@Evdog9000, I have a really hard time shorting oil, in my mind i keep telling myself that it's getting more rare. Now that Covid is gone and most people start to understand they got tricked, the economy will get better. There's also this conflict in Ukraine.. Why do you think it gets lower ? -30 would be a lot..