Starting to look extended, but more upside appears baked-in.
Contra-trade idea is $NRGD or $DRIP, but $WTI can stay extended for a while.
$100 probably a psychological resistance level and will garner much prognostication on TV.
Putin/ Ukraine will be headline event trigger, causing spike ($GUSH).
See a chance of $WTI pulling back into the linear regression channel.
If it stays elevated, this will have a cooling off effect on US economy (individual consumer).
This is a tough market.
Contra-trade idea is $NRGD or $DRIP, but $WTI can stay extended for a while.
$100 probably a psychological resistance level and will garner much prognostication on TV.
Putin/ Ukraine will be headline event trigger, causing spike ($GUSH).
See a chance of $WTI pulling back into the linear regression channel.
If it stays elevated, this will have a cooling off effect on US economy (individual consumer).
This is a tough market.