USOIL WTI Crude Oil Short, breach of a decade long pattern
Oil has breached a 13 years long falling wedge.
I will be shorting until the 55/57 area, then switching to a long term buy that, in my opinion, could lead priced up to the 130 area. This would allow the big petroleum companies to sell their oil stocks at higher prices as they decrease production to switch to environmental friendly vehicles.
You can see that the pandemic created a spring that allowed smart money to accumulate positions at advantageous prices, around 0. We'll see a lot of strength after the trend-line has been retested.
Please like and consider following if you enjoyed the idea.
Peace.
TrickleDown FX
I will be shorting until the 55/57 area, then switching to a long term buy that, in my opinion, could lead priced up to the 130 area. This would allow the big petroleum companies to sell their oil stocks at higher prices as they decrease production to switch to environmental friendly vehicles.
You can see that the pandemic created a spring that allowed smart money to accumulate positions at advantageous prices, around 0. We'll see a lot of strength after the trend-line has been retested.
Please like and consider following if you enjoyed the idea.
Peace.
TrickleDown FX
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