WTI to 70 ?

[VolTrader + 1]

As more countries and oil trading companies avert US embargo and Russia is able to sell its output of commodities and thanks to Biden a lot of emergency reserves are flushed into the market and shells oil are becoming more and more viable even if Biden currently opposes but might change his mind due to political survival  , I'm looking at the long term WTI chart and seeing the last opportunity to short this market around 110 or higher for a duration of 6 month or 75$ which ever comes first.

If you find this idea good/bad make your voice heard.

Good luck and God bless all

 

 

[GlennCurveseries + 2]

Hi Itai,

Personally i wouldnt short anything in oil as long as product cracks are roofing the way they are. This is where you find the real fundamental. So your view would be better expressed in shorting RBOB Cracks. Question will then be if one dare doing that? 

Good luck in any case!

Glenn

[Tom Nolan + 2,443]

This might relate.  Remember that the S&P has some big oil companies.

Go to around the 15 minute mark for this mention about Oil Prices.

April 25th (Monday

Economy is already in recession, gold price to rebound in the coming days - Chris Vermeulen

https://www.youtube.com/watch?v=vVAwI6E38uk

Taken from this THREAD....

By the way, Gareth Soloway called the recent Bitcoin crash to below 20k many months ago.  He had also made some other spot-on predictions about Bitcoin prices and other stocks over a year ago.

[Starschy + 211]

The price wont go that deep in my opinion. Russian find buyers enough around the globe and large Countries like South Africa, India, China and few others. A price in the 70-95 won't hit Russia. Their minimal price is 15 USD. 45 USD around for the Country (National Budget)  and all above 65 USD goes to the National Welfare Fund.