US producers are going to war with OPEC. There are many companies that are profitable at $30/barrel in the states. They're ramping up production. DXY is still trending up as well.
(I) Supply and Demand.
Demand shrinking
Supply increasing at a cheaper rate
=
Price drop.
GL :)
(I) Supply and Demand.
Demand shrinking
Supply increasing at a cheaper rate
=
Price drop.
GL :)
Note
We're about to start the next leg down soon.Failed Bounce
Iran narrative falling apart (CIA spies most likely to be tied to oil tanker explosions)
UK Ships were escorted by tug boats??
USA keeps increasing production.
Note
Opening shorts today, we're going to move to $45 is the plan.
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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.