ridethepig
Short

Tracking the highs in Crude after Supply cuts are priced in

TVC:USOIL   CFDs on WTI Crude Oil
Here we are tracking a retrace in Crude after expected supply cuts are fully baked into the market.

Bulls are going overboard here, forgetting that we have demand shocks coming with the global slowdown. The impulsive leg down last year was caused from the supply side, there is very little that can be done here to get back to these levels again.

Good luck everyone trade this live.
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Nice presentation. I have a megaphone formation which also shows a pull back but to 54.50.

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