“Then I started to trade oil … now it’s every 5 minutes!”
“May the big money be with you”! … outside of that sage advice, I’m not sure
anything else I can tell you will help … right now, nobody really knows what the
future supply situation is about, regardless of the Saudi’s attempting to bully
price higher while talking production cuts … the bigger issue, that they can’t
control is world demand for oil … and that lands firmly in China’s lap.
I’ve read articles about the ChiComs hoarding oil, and 5 minutes later I’m reading
about how their economy is poised to implode and leave the world a complete
clusterfark mess … they can’t both be right, and it goes to the heart of the mess
the oil market is in, as it seems every 5 minutes the focus shifts from supply to
demand and back again … in the end, the deep pockets of oil money are having
their way with the market … see my shocked face!
Directly below, the 20 Day Range MA is WTI Crude Oil.
click on chart to enlarge
With this added uncertainty swirling about, the range has up ticked indicating
increased volatility … I don’t see that going significantly down anytime soon
… onto the week mi amigos … until tomorrow … Onward & Upward!!
Have a great weekend everybody!
-vegas
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