Post by
smallcaptdr on Dec 02, 2022 4:30pm
What will Oil do Sunday night
I never posted today because I didn't want to sway anyone from their decisions on trading stocks, so I kept from posting my thoughts on Monday. I now feel that something will trigger Oil to rally up to $88 where we found support when Oil was in and out of $90+ but first we would break through $85 fairly quickly on any bullish event. With Oil up at $82 I felt that OPEC for sure would have no further cuts in Dec but with Oil at $79 as of this writing, this might trigger OPEC to be a little more aggressive with the possibility of additional cuts may be at a lower level of 200,000 or they'll give a firm understanding that when Jan rolls around expect a cut of 1Mil this is all my speculation. Lets face it the cartel wants $90+ Oil so trading in the $70+ for 2 weeks must be testing them and today Oil at $79 might cause them to say that we're not going to be trading in the $70+ for a 3rd week so we're doing something and they're well aware of the power they have with just words so how easy is that to get what you want, $90+ and the EU has come up with a $60 cap now lower than their first price of $65-$70 so this is also happening this weekend and a lower cap could piss of Russia even though they're selling Oil at $53 so this could also trigger Oil to move higher and let's not forget about the miracle China whos ability to cure COVID overnight might come out with some BS to assure the world that China is tops..lol So I feel that Oil will rally Monday and if we escape all those events with Oil heading to $75 I'll be shocked. JMHO GLTA
Comment by
Burgersandfries on Dec 02, 2022 4:36pm
Let me help you out...I don't think anyone is basing their investment decisions on your anonymous posts on stockhouse..