Again we are seeing a push down when buyers try to break above $64 /barrel resistance level, if we can see further rejection we might have a chance to short this black gold. _________________________________________________________________________________________________________________________________________
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Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________
I'm long oil. there is a variable of inflation that the bears don't get. I totally see what your seeing but betting against oil, gold, and spx I don't recommend in this environment
Shooter
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@derekh42, I'm long too. Tension in Middle East means supply disruption. That will be in play as long as Iran headlines are in the news. If we go to war, that'd another reason to go long.
derekh42
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Or just that usd is weak rate cuts and repos and QE equals go long oil gold silver stay long for the next year
UnknownUnicorn4862126
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Oil will not be allowed to drop that far in the current environment.