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JennyEng
About me Former US big bank oil trader since the 90s. In the last decade, European big bank corporate lender to majors in the US oil & gas industry. Survived the GFC and now retired in The Philippines & Thailand ; )
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WTI Oil Oversold on the Daily Chart
USOIL
, DShort
USOIL: WTI Oil Oversold on the Daily Chart

The oil rally should end today for 3 reasons: 1) Fundamentals: As we head into the Labor Day weekend in the US, refiners will switch over and cause less demand for oil for products like gasoline. US producers also putting on hedges around the $45-50 area, with smaller highly levered producers being forced by lending banks to lock in their margins, else...

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