USOIL MARKET OVERVIEW Good Morning and happy Sunday;
Long time no see for all our non-members but we hope this idea finds you well.
It's time we start looking at WTI on the larger time frame to put things in perspective and so you can really see the magnitude of what is happening and what is going to happen.
Over the past 5 weeks we have been limiting our USOIL trades and I want to draw attention to the first blue box, this is a huge monthly conidiation zone where price is volatile between a tight range which is why I have been standing back and just letting USOIL do it's thing (This hasn't stopped us bagging a 1000 pip trade from 99.80 and another 430 pip trade this week). WTI is climbing rapidly as we expected it would and there's no stopping it. If you have read our financial warfare post then you know all the reason why it's doing so.
The next monthly resistance zone to be tested it all time highs which we should reach soon as we blasted through the huge consolidation region marked by the first box (This shows huge buying pressure). The geopolitical sentiment in Europe and inflation are playing hand in hand with each other causing the high USOIL prices, PUTIN has come out to say that he blames COVID for the true inflation and not the war (He's correct and we have been saying this for months now).
Since COVID-19 started money became far too easily accessible with families obtaining and retaining money. It's caused an influx of new home buying, new car buying, loan obtaining and so on. Many people are now are stuck with over priced homes, huge mortgages and large loans whilst the economy gets worse. Next year the housing market will start to fall off and we'll begin to see the cycle of the recession BUT this will be a great and deep recession. This ties in with USOIL as when USOIL is at these levels a recession is undeniable now and we are starting to see glimpses on the news.
I have publicly called $175-$185 per barrel for USOIL and I still stand by this, everything we have predict has come through and the new ATH predictions are being scoped in. Once previous ATH is broken there will be a large rally to our predicted region.
OPEC are talking about kicking Russia out of the group whereby they would have to sell large amounts of their oil supply at a lower price (They're currently making $800million a day from oil). If you were Russia and knew you were in a war and potentially going to be kicked out of the OPEC group and have to sell off your oil supplies what would you do? WELL I would be creating FUD and a political event in an attempt to drive up oil prices as high as possible before I sold to get as much money as possible. Russia wont care about the implication's it will have on the world economy as the world has already crashed theirs. Again it comes back to strategic financial warfare where only public loose.
TECHNICALS:
USOIL will start bouncing between $114.20 and $126.00 on the interday timeframe until it's able to get that ATH rally but we will cover this in greater depth on Tuesday for members.
STAY SAFE AND JOIN THE LINK BELOW.
