A historic shift for oil fundamentals
At this point I am really just sharing my thoughts with all of you and keeping my own personal idea log, this will certainly be a post I update a lot!
For right now I don't have a position in play on this. I want to see if this will retest the $100 mark. There is a distinct feeling of FOMO to enter long right now and I know better than to FOMO lol. If we do get the dip on the daily chart though, I will be long. If not and it goes up...then I missed it and will keep in mind the most important part of trading, there is always another trade!!!
Overall though this play would fundamentally boil down to one thing, Is the Ukraine in for an extended war? On a personal level I really hope not, because holy hell what way to make money right? Given the sanctions on Russian oil coming into play there is already talk of "Canada could make up the short fall" and we could, if we had the pipelines in place to get it to market. Though, the Canadian Conservative party is already pushing for it and I can't say that I blame them. Granted, the current Liberal party is big on getting greener so it would require them to back pedal on their stance, if the war goes on long enough there would be decent political support to do so without hurting their current position.
Welcome to history folks!
For right now I don't have a position in play on this. I want to see if this will retest the $100 mark. There is a distinct feeling of FOMO to enter long right now and I know better than to FOMO lol. If we do get the dip on the daily chart though, I will be long. If not and it goes up...then I missed it and will keep in mind the most important part of trading, there is always another trade!!!
Overall though this play would fundamentally boil down to one thing, Is the Ukraine in for an extended war? On a personal level I really hope not, because holy hell what way to make money right? Given the sanctions on Russian oil coming into play there is already talk of "Canada could make up the short fall" and we could, if we had the pipelines in place to get it to market. Though, the Canadian Conservative party is already pushing for it and I can't say that I blame them. Granted, the current Liberal party is big on getting greener so it would require them to back pedal on their stance, if the war goes on long enough there would be decent political support to do so without hurting their current position.
Welcome to history folks!
Trade active:
took a long on the odds of return alone, I live an area where gas is regulated, they are only allowed to raise the price of gas so often, they invoke the a special clause that lets them raise the price more times then prescribed. Gas went up 10 cents last night and 10 cents today.
Trade active:
still holding in the green, random thought... Could this be oil's extinction burst?
Emotional state: cautious, BP normal