Oil coming into a key area at the bottom of an 18-month structure. Typically I would wait for this to fully correct (below the 18-month structure) and then make a decision on how to trade it. But I think the most glaring thing about oil, is the fact that the all time high was set in July 2008. Lots more money out there these days; lot more drivers too. Economy is showing signs of inflation everywhere.
I think it is a mistake to think this thing cannot ring the ATHs as early as Summer 2020. For now we watch and wait to see how it behaves in what has been a somewhat persistent range.
From a trading / exposure perspective - I have been long in oil since September of this year.
We will continue to track oil closely.
God Bless
I think it is a mistake to think this thing cannot ring the ATHs as early as Summer 2020. For now we watch and wait to see how it behaves in what has been a somewhat persistent range.
From a trading / exposure perspective - I have been long in oil since September of this year.
We will continue to track oil closely.
God Bless
