OIL - no reason to be short

Panjang

West Texas Intermediate Crude Oil Futures (Continuous futures contract) (BLACKBULL:USOIL.F)

BLACKBULL:USOIL.F West Texas Intermediate Crude Oil Futures (Continuous futures contract)

There is no reason to be short OIL
"Doing a Bobby" (Charlton) as we used to say (shooting in to the top right hand corner)
Higher lows, potential 4th wave EW pullback finished and heading up in a wave 5 (often the strongest wave for commodities)
Stochastics suggest more to come, RSI headed higher
PLUS, Russian Oil situation
PLUS, US to replenish the SPR
Nothing to me suggests being short in this
If it takes out 116-117 then 147 all time highs potentially in the cards in coming months

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