$5-10 dollar one day move is shaping in WTI - very soon
In the last 2 weeks we saw Nat Gas move almost 40%, crushing the shorts. In Feb NYMEX WTI, there is a current open interest of 439,534 contracts, representing over 439 MILLION barrels of oil, near an all time record high. This does not include the open interest on ICE. With the action heating in the middle east - expect a wild move upwards, crushing the shorts and the pimple faced bank economists. Its never a good idea to all pile into a boat on one side .... tends to end in disaster. And a disaster is in the cards for shorts on WTI. Hedge Funds are getting the amo ready, and when the move starts it will be like a train running over the shorts. May not be 40% like the nat gas market (and that's a ton of cash), but a 20-25% move is imminent.