“I trade oil … no worries … what can possibly go wrong!?”
In case you haven’t noticed, crude oil is trapped … stuck in a volatile trading
range, where world oil supply & demand seem immovable at the moment … sure,
at some point in the future, price will move out of this current mid 50’s range, but
that isn’t the point … point is, will you have a trading account by then or will it be
destroyed by this choppy bullshit we’re in now? … the usual buy highs, sell lows
that chop invites. So, adapt to this trading environment or die … that’s the choice
right now, simple as that.
Directly below, this week’s 20 Day Range MA for WTI Crude Oil.
click on chart to enlarge
Various headlines,Trump tweets, and the ever present Fed Pie Holes continue to
keep oil VIX elevated … however, it’s deceiving cuz it all happens in
microseconds, and trying to capture significant portions of these oil moves is
almost “Hoover Dam” impossible … quite frankly, this market is a mess right
now and I would avoid it … until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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