Long

Long term idea long crude

Updated

Hi traders.

Long term cycles show a big bottom in oil. And with the supply and deman being very tight based on reports globaly.
We belive energy again will be the winnter of 2023, based on terrible world policy on fossile fules.

We are targeting 90 as proffit target.

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I am placing my stop at 78.
You cna play oil stocks, ERX or UNG if you dont trade futures.

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I will look at the close and post when i executed the trade.

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Bounced of our stop of 78. Wait until the close.

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I bought symbol TPL (TETHYS PETROLEUM LIMITED) for the oil play.

Good company producing solid numbers and giving solid dividend. They have more and more wells coming online. This will be my play for 2023 in oil.

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If you have problem with volitility i encourage you to do reaserch on stocks, specaly energy stocks, who are exploring or producing oil. If the project is good and get executed the stock price gets rewarded. But project takes time to build, so you have to buy hold and wait.

I am not liking the oil price at the close soon, we will have some doward pressure. Whats intresting to watch is US not selling as much oil from strategic reserves and active rigs data.

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The longer term cycles tops in july.
I have already postined a while back with (TETHYS PETROLEUM LIMITED) who will benefit frrom high oil prices. And it pays big dividend.

TradingIsNotGambling

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