I love to wake up on Mondays to find I'm better off than Friday. This has been a feeling I have gotten use to this year. I just afraid I'm getting addicted to low oil. What will I do when we hit $20?? Sure the other side the trade will offer some help once oil reaches its low (around $17bbl I'm predicting). But then what... Oil will not have the upside in the near or near distant future. As I have said for months, unless the King of Saudi dies or we get a new petro War, we will see no change in direction.... oil is being manually manipulated by Saudi.
Old School... Fibonacci be dammed.. Just follow the trend line. The micro, the 6 month, the year trend.... Your pick, all forecast oils decline.
Storm flags this week, no lifeguard on duty... Big boards only. Paddlepuss be warned. I remain very short for the long ride..
Old School... Fibonacci be dammed.. Just follow the trend line. The micro, the 6 month, the year trend.... Your pick, all forecast oils decline.
Storm flags this week, no lifeguard on duty... Big boards only. Paddlepuss be warned. I remain very short for the long ride..
Note
Update to micro:This micro channel has more velocity than last month. This means some big bommie, expect overshoots on both sides. It's a long way to the bottom... this is not it. Swim safe.... don't get axed by the backdoor.
Note
barrons.com/articles/here-comes-20-oil-1454736627Now Barron's Agree... Well to $20 at least...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.