Lot of moving parts on this one and its more words than charts but let me highlight some key fundamentals that are going to drive the buy of a lifetime
Factor 1: Key support at the $10 area, price has never breached that low before ever and I expect $10 support to hold like a brick fucking wall
Factor 2: Demand around the world has plummeted
twitter.com/JavierBlas/status/1250333876716597251
Factor 3: Supply inventories at the 5 year range
twitter.com/dlacalle_IA/status/1250745858309722114
So no demand, high supply and high inventories. This is Econ 101 of supply and demand. So we will be getting out $10 oil, just put a limit bid in and let it trigger
X Factor: Right now we are seeing in the mainstream news, anti china ads
X Factor 2: There are anti american propaganda in China brewing, the common idea is that America has created this Virus
X Factor Conclusion: If these 2 sentiments in media continue from both sides, we might have a war...which is explosive to the price of oil
Oil could hit all time highs passing $160 if there is a war that breaks out.
If you get a 2x levereaged oil etf, you can make a 20x return, minimum, once oil recovers over the next few years
Factor 1: Key support at the $10 area, price has never breached that low before ever and I expect $10 support to hold like a brick fucking wall
Factor 2: Demand around the world has plummeted
twitter.com/JavierBlas/status/1250333876716597251
Factor 3: Supply inventories at the 5 year range
twitter.com/dlacalle_IA/status/1250745858309722114
So no demand, high supply and high inventories. This is Econ 101 of supply and demand. So we will be getting out $10 oil, just put a limit bid in and let it trigger
X Factor: Right now we are seeing in the mainstream news, anti china ads
X Factor 2: There are anti american propaganda in China brewing, the common idea is that America has created this Virus
X Factor Conclusion: If these 2 sentiments in media continue from both sides, we might have a war...which is explosive to the price of oil
Oil could hit all time highs passing $160 if there is a war that breaks out.
If you get a 2x levereaged oil etf, you can make a 20x return, minimum, once oil recovers over the next few years
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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.
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.