ridethepig | Oil Macro Flows
Here we go for another round of updates to the Oil chart...
đź“Ť Oil TBC....
đź“Ť Oil TBC....
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What are we trading here? Sellers can take advantage of the false breakup. The supply and demand side are facing further pressure from Covid chapter II which will leave Oil particularly weak.
The movement of the black stuff is going to be nipped in the bud here at 41.5x because the next hammer will be very powerful.
Thus we can keep loading offers in the same swing; the clumsiness of unaware buyers thinking everything is 'back to normal' makes it a very interesting trap.
Aiming for a test of 34.4x and 30.7x would be an excellent haul, from there we can start to see the restraining manoeuvre from OPEC and etc.
Good luck.
Note
The same map..
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Disclaimer
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.