OIL going to make BIG move soon

15 thg 2, 20231/2
We sold most longs in #OIL, trailing position left
Been going long UCO & shorting puts @ lows

We want back in, why?

There's something brewing in middle east area
More on this later

Chart is too much, explain in next post

USO CVX XOM MPC SUN
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2/2

Short term #oil is on a slight uptrend (white)
It also more recently trades in channel (yellow)

Longer term it's HUGE Head & Shoulder (top)

If there is #war is larger conflict in middle east UCO & oil will rally hard

However, if there's nothing, it'll crater, temporarily