RE:RE:RE:RE:RE:RE:RE:RE:RE:CPI 6.5%
Snowballer wrote: $103ish
TheWokeLemming wrote:
Snowballer wrote: im saying I feel comfortable with the technical pivot in directional momentum being shown on the daily and weekly chart for the time being and I can leverage the conviction. That's much more precise than up, down and sideways as all of that is inevitably true... the difference is timing directional momentum which has been working out well for me so far. The targets are simply risk reward points on the map
TheWokeLemming wrote: So you're saying it could go down, up or remain flat?
At this point the biggest risk to recession seems to be tthe Fed itself OR OIL RISING QUICKLY TO $100. Sleepy Joe won't be refilling the SPR anytime soon.
So if $43 is worst case scenario, what's your best case?
To me that seems quite low in comparison to such a dramatic price to the downside in your worst cast scenario. The SPR will have to be refilled at prices above Sleepy Joe's $70 ask or else it won't be refilled, which prevents him from using it to suppress prices once again for political purposes. If the Fed continues recession rhetoric it may actually lead to a recession, which Biden needs to
avoid for the next election. He's between a rock and a hard place. My opinion only.
https://oilprice.com/Energy/Crude-Oil/180-Million-Barrels-Of-Crude-May-Never-Be-Returned-To-The-SPR.amp.html