RE:RE:As usual That's what I'm seeing. The playbook has been to sell out on spikes and then buy
back in a few days or more after each blow off. Each time oil price has co'operated
like clockwork. Its a day traders, hedge fund swing traders and penny flippers
dream market.
That said have the basic dynamics fundamentally changed. Perhaps it has as this
time Opec stepped in big time where previously they were passive and absent. They
let Biden and associates play the SPR release game until now. The SPR has been seriously depleted and I read someone saying the salt caverns where the reserves
are stored become destabilized after a certain point. That could mean a change of strategy for the US. More reliance on the Fed and and creation of a multi lateral
buying cartel to go agains Opec. It remains to be seen how this all shakes out but
for now Opec is in command.