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Sunday, July 28, 2019

SUNDAY UPDATE: THEY SHOOT HORSES DON’T THEY?

“Sounds to me like she trades oil as well!”

Maybe Wednesday’s FED meeting and Friday’s NFP report will give oil some
impetus to move somewhere … maybe … if not, come back after Labor Day and I
don’t think you’ll have missed anything … yes, it’s that kind of market right now.

Directly below, the 20 Day Range MA chart of WTI Crude Oil.

click on chart to enlarge

I wish there was better news regarding oil, but with August approaching and the
world winding down for “vacation time”, it doesn’t look good for oil volatility
… and the supplies of crude keep building while world demand goes softer and
softer by the day … are the 40’s in our future once again in the days and weeks
ahead? … right now, it makes more sense than anything above $60, but whatever
happens it’s likely to be a grinding market … until tomorrow mi amigos
… Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas




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