Suncor Energy Inc T.SU

WTI: Where are we going?

[MigraineCall]

Here's why $68 is important, and being targeted. Almost there now.




Now, again, remember this chart for crude price seasonality. Almost there now as well. See a pattern here?



Enjoy the big sale going on right now on your favorite producers. These are precisely the times to accumulate, when you feel like puking.

Got oil?

[liljohnnyjoke]

That area of the early summer red circle at WTI $68 was where "they" were bearish on oil price due to oil glut, if you drew a red circle around the WTI +$90 double peak in September it would show where "they" were extremly bullish on oil price, pounding the table to buy, because the world was in a dire oil shortage situation, now 2 months later back at $68 due to oil glut

[MigraineCall]

Good observation. If you look at the data, there is no oil glut. The market is in fact nicely balanced with ever increasing demand, and presently with a marginal amount of increased supply, less than 1%. We have super magnified price swings, due to spec positioning and market sentiment, and current narrative being pushed.  Spec positioning is key, and oil is an extremely manipulated