SUNDAY UPDATE: THE G20 HELPS OIL BULLS

“Uh huh, sure!”

Trump & Xi are in love again … that’s bullish for oil, but OPEC needs to weigh in

with Vlad on production cuts, to see which way this stuff goes down the highway

… I’m wondering what lies above $60, and I think we might be on the way of

finding out tonight.

Directly below, the 20 Day Range MA for oil.

click on chart to enlarge

I’t s a shortened week, but it has the potential to be really interesting. Until

tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas

SUDDENLY, PUTIN BECOMES IMPORTANT AGAIN FOR OIL

“OPEC & Putin will be on the same page!”

Another dull, listless day in oil … see my shocked face … it won’t be this way

come next week, cuz this weekend we get to be disappointed with the Trump / Xi

meeting at the G20 [no matter what they say], and OPEC + Vlad get together and

hash out their production manipulations … you know, the ones they say they

meet but don’t.

Range today in oil well below $1 [so far], as we limp to the close simply drifting

… I know it sucks, but markets get like this around important events, and the

G20 + OPEC can’t get any more important for oil, as one tackles supply, and the

other tackles demand. It’s as simple as that. Blog update Sunday … until then mi

amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas

OIL TAKES THE DAY OFF

“Oil says leave me alone, I’m busy!”

Well, not much to say about a 9 hour session that has moved about 60 cents

… caught between OPEC production cuts & slumping world oil demand, price

can’t make up its mind where to go … so it goes nowhere. Throw in Trump / Xi

this weekend at the G20, and it’s about as confusing as it gets.

If you’re looking for guidance, come back next week, cuz oil looks to be like the

dog … leave me alone, we’re on vacation. And that pretty much sums up oil

today!

Until tomorrow mi amigos … Onward & Upward!

Have a great day everybody!

-vegas