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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (36759)	1/22/2020 7:32:24 AM
From: Bull RidaH	2 Recommendations Recommended By bull_dozer Mevis Read Replies (1) \| Respond to of 41419

Hi YM, Thanks for looking me up, and hope you've been well. Imagine where the price of oil would be without the hocus pocus and contrived events in the ME over the past few years. Somebody has fought like hell to keep it this high, and I think we probably both know who that somebody is. But gravity (if there were such a thing) will eventually have its way, and TPTB (who are shorting oil and oil equities into every rally) are waiting for their opportunity to cover and accumulate for a 5 to 7 year trade at acceptable bargain values. But prices will have to stay down near their targets long enough for them to accumulate the hundreds of billions/trillions that it takes for them to get behind an investment grade move. A 2 to 3 year base should do the trick, which would allow the hot money to finally panic out and give up, will probably need to be below $30/barrel to pull that off. XOM's price chart is locked in a downward pitchfork from its 2014 highs, and would need to break the right downward tine to have hopes of ending its bear market. It seems like it's gunning for that mid tine level sooner rather than later, and will need to hit it relatively quickly to avoid having to go below 48 to get There.