long oil, long $OIH
Updated
The well-defined channel seems to be intact while RSI is bottoming out and MACD is beginning to curl up.
I believe oil has seen the majority of its bad performance in the past week. After this greenflation will kick into gear. People won't be able to resist investing in energy knowing that they'll be taking advantage of huge profit margins while the commodity becomes more scarce as companies stop drilling and consumers switch to EV's
Screw gold! It's all about that black gold. and that was the final flush we needed to take the next leg higher.
OIH
I believe oil has seen the majority of its bad performance in the past week. After this greenflation will kick into gear. People won't be able to resist investing in energy knowing that they'll be taking advantage of huge profit margins while the commodity becomes more scarce as companies stop drilling and consumers switch to EV's
Screw gold! It's all about that black gold. and that was the final flush we needed to take the next leg higher.
OIHNote
bouncing to the penny every time it hits the lower part of the parallel channel. Up, up, and awayNote
Yeet yeet. I hate to say i told you so, but I told you so
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