“Especially if you went home short oil over the weekend!”
Some traders come tonight when markets open for the week, are gonna get a
painful lesson in market dynamics from crude oil … news of Saudi Arabian oil
fields, specifically its largest oil facility, being attacked via drones from what
looks like Iran, is most likely going to make tonight’s open a “six pack of Tums”
experience for a whole lot of traders … I simply have no idea what to expect
from price … all I can say is, the only thing you can count on is that the scumbag
LP banks will blow the bid/offer spread out to unheard of heights, and in the
process make crude oil untradeable for perhaps the entire week … who knows?
Directly below, this week’s 20 Day Range MA in WTI Crude Oil.
click on chart to enlarge
We’ll see what happens later, but this could either be a “false alarm” and price
doesn’t do much damage, or it’s a total clusterfark and the market becomes
totally dysfunctional … I dunno mi amigos, I dunno.
Until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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