Hi Folks:
Oil is having a massive rally since we bottomed at 66 area so now we had the beautiful 20 bucks swing that monster money managers like. Could they push higher? Perhaps a little bit more to 89-91 but if you trade SCO or similar ETFs then you will be fine adding more shorts at this point for a nice correction.
But always bear in mind the tension in Russia - Ukraine and the Middle East with the Houthis attacks.
A major hit on a strategic oil target would be a bull's dream to hit 100+.
I trust faith and diplomacy and will keep with my shorts at my own risk :)
STAY SAFE. Cheers
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Oil is having a massive rally since we bottomed at 66 area so now we had the beautiful 20 bucks swing that monster money managers like. Could they push higher? Perhaps a little bit more to 89-91 but if you trade SCO or similar ETFs then you will be fine adding more shorts at this point for a nice correction.
But always bear in mind the tension in Russia - Ukraine and the Middle East with the Houthis attacks.
A major hit on a strategic oil target would be a bull's dream to hit 100+.
I trust faith and diplomacy and will keep with my shorts at my own risk :)
STAY SAFE. Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.