Post by
Chefboy69 on Jun 15, 2022 1:11pm
Oil Consolidation
not sure who's been around for a the past 1.5 years or so...but i have..
Oil did this at $70 and again at $100
the price was over extended and the sector is very crowded right now..( meaning a lot of traders and retail) so the price of oil will now move lower to appease the masses.
The oligarchs( OPEC) do not want to cause too much disruption...America has already started a war with high oil prices...
it will not go to $150 in my opinion...but Oil will float between high 80's to 100 for a long while
and that is still great for these oil companies...
the oil sector was over extended and needs to cool off
all my opinion
LONG hold here
good luck all
Comment by
Relaxrelax on Jun 15, 2022 1:19pm
Sorry Chef but I have to disagree 100% short term....I see no catalyst to move the price of oil down. Until I see news of more drilling, OPEC adding, a ceasefire....I see the price staying around where it is.
Comment by
Relaxrelax on Jun 15, 2022 1:29pm
Demand/Supply issues in oil and natural gas are not going away. We're just in the third inning of an energy bull cycle......Buy the dips!
Comment by
Chefboy69 on Jun 15, 2022 1:33pm
if the price goes any higher demand will be impacted and the price will crater its a dance they must play cheers
Comment by
Chefboy69 on Jun 17, 2022 10:00am
people disagreed and said i was crazy..Oil is extremely volatile and now that the market has corrected Oil will fall BUT Gear is still printing dollars EVERY DAY stay long and be rewarded
Comment by
Chefboy69 on Jun 17, 2022 10:18am
also i added yesterday and of course it drops more...but i don't give a rats a.ss... now we are filling gaps in chart from first run up in January once those gaps have been filled in long term chart there will be only 1 direction to go and check out charts when she blows she blows hard Good luck all