USOIL MARKET OVERVIEW
Good evening everyone;
We stood off WTI this week and let it run it's course, we got caught out a few times last week trying to take some trades but they don't always work out. WTI has completely broken it's short to mid-term structure and I only think thinks it's pulling back due to weekly closures. I believe that WTI we continue bearish but the overall bullish trend can't be prevented. I am still targeting $185 a barrel which I think we will get the next leg for once we have the long term trend correction.
Governments are trying to resolve the energy crisis which is being heavily influenced by the price of USOIL. I believe OPEC will make attempts to increase the number of active rigs and output in an attempt to drive WTI down (which it will) BUT only temporarily. This is a train which will not stop until inflations clams down but we're only just getting started.
We warned of inflation, recession and market crashes before it even hit your mainstream media screens.
We stood off WTI this week and let it run it's course, we got caught out a few times last week trying to take some trades but they don't always work out. WTI has completely broken it's short to mid-term structure and I only think thinks it's pulling back due to weekly closures. I believe that WTI we continue bearish but the overall bullish trend can't be prevented. I am still targeting $185 a barrel which I think we will get the next leg for once we have the long term trend correction.
Governments are trying to resolve the energy crisis which is being heavily influenced by the price of USOIL. I believe OPEC will make attempts to increase the number of active rigs and output in an attempt to drive WTI down (which it will) BUT only temporarily. This is a train which will not stop until inflations clams down but we're only just getting started.
We warned of inflation, recession and market crashes before it even hit your mainstream media screens.
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