Held $52 Support, Strong Support. Only possible surprises are on the upside. Some buying in spurts prob shorts cashing out

Recommended Posts


Strong Support at $52 to $53.

Large increase in shorts during May $58 to $62. Buying spurts today shorts cashing out.

I don't see any downside from here. All the bad demand news is out China, Mexico.  

Maybe China surprises and agrees to some settlement by Economic meeting end of June. Market would make major move up on China deal

Mexico probably makes an effort to help curb immigration.  If happens some upside but not sure how much.

Some believe Maduro will leave Venezuela soon. If happens would imply supply increase . Maybe a little downside initially.  

I think trades $52 to $55 for a while.

Edited by Falcon
  • Upvote 1

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.