TA memo to myself charting possible contingencies.
USOIL to follow fundamentals/EIA/API/Rigs and channel/squeeze until September OPEC meeting.
Currently at 46.60ish. EIA report was bearish but less bearish than the API report. I am still tempted for potential break-out buy point is at 46.00ish? But another more ...
EIA reports are bullish. Fundamentals are bullish. The rug will be pulled when OPEC does not fall through and I see a huge short position when that happens. Until then, BB is over 1 and MFI is over 80 on the 1D textbook breakout confirmed.