Oil as of May 23, 2019
Well in continuing with the theme that I have been calling for many years were you short oil. I sure hope that you were. It finally tanked down as I knew it was going to. It has been staying at these lofty levels not because there is any difference in supply and demand (because there isn't) but rather positions had to be built.
Well, it looks like the pressure has finally reached a point where a strong move down is now in play. I don't know how far it will fall but you can see that it sure has been following my predictive line. That was a ten dollar move by the way in case you were wondering.
Is it done falling?
I don't think so but it won't fall too much further.
I am flat on the position because it hit the area that I was expecting it to hit. From here on in it is anyone's guess.
I think the optimal price is somewhere around the $50.00 a barrel mark as I have told you in the past.
Anyway I hope you enjoyed the call.
Well, it looks like the pressure has finally reached a point where a strong move down is now in play. I don't know how far it will fall but you can see that it sure has been following my predictive line. That was a ten dollar move by the way in case you were wondering.
Is it done falling?
I don't think so but it won't fall too much further.
I am flat on the position because it hit the area that I was expecting it to hit. From here on in it is anyone's guess.
I think the optimal price is somewhere around the $50.00 a barrel mark as I have told you in the past.
Anyway I hope you enjoyed the call.
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