“WUT? … but the oil trading signal said higher!”
Unless somebody in power in one or more of the major oil producing countries
of the world decides it’s time to cut production, they will be paying you to take it
from them … talk about oversupply, but equally bad there is ZERO demand for oil
… just for shock value, United Airlines today announced that all of their booked
fares [so far] for May 2020, for the entire month, equals one day from May 2019
… and that’s just one example … talk of a “V-shaped” recovery in oil demand is
fantasy … for now, selling rallies is the only way to go, but news can kill you, so
it isn’t “sell it and walk away”.
Over in cryptoland, another day of NADA action with small BTC ranges
underneath the current 20 Day Range MA … a little better today, with a BTC range
of about $500, and the 7k level reached again … it appears all eyes are gonna be
on the MAY “halving”, so who knows how quite this stuff can get in the next
month.
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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