short-term pullback in Oil expected. $OIH $WTI
This thing has gotten way overcooked and gone parabolic. If it continues to go parabolic, it will destroy the consumer. Which is 70% of what drives the US economy. So I doubt that will be allowed to happen by the market gods lol.
I expected
USOIL
to return to its well-defined travel that it bonered out of like a rocket. Unless we see 3 consecutive closes above $115 a barrel for WTI crude, then I expect a return to earth (the channel) and then continuing its slug upwards until renewables and EV's have completely replaced fossil fuels and ICE's.
Please see the tagged post for more info. And to understand this is not my first time doing due diligence on the subject. And not to say I told you so, but I told you so, I was spot on with oil last time. I gotta take my W's.
The easy way to potentially play this while limiting risk exposure is puts on $USO, and use any profits to add to $OIH. #TRUSTinTheTiger
I expected
USOIL
to return to its well-defined travel that it bonered out of like a rocket. Unless we see 3 consecutive closes above $115 a barrel for WTI crude, then I expect a return to earth (the channel) and then continuing its slug upwards until renewables and EV's have completely replaced fossil fuels and ICE's. Please see the tagged post for more info. And to understand this is not my first time doing due diligence on the subject. And not to say I told you so, but I told you so, I was spot on with oil last time. I gotta take my W's.
The easy way to potentially play this while limiting risk exposure is puts on $USO, and use any profits to add to $OIH. #TRUSTinTheTiger
Trade active:
Back in the channel with MACD curling down. I see it hitting the halfway point of the channel at least
