EIA (Energy Information Agency) historical data going back to 1990 shows that the past year has seen stocks (storage) depleting more rapidly than any other year. I have reasons to believe demand is rising and if anyone is curious I will elaborate further but these ideas that I've been posting don't get much attention. I'll just say that diminishing supply and rising demand suggest a rising price. Last two times oil reached the $90 level it exceed $110 not to soon thereafter. There are plenty of technical arguments to make for going short here so I won't outright go long and just sit on the position, I may wind up shorting this thing down to 50, anything is possible, but my bias is slightly bullish based on the fundamentals.
Edit: The scales get all messed up when publishing unfortunately so the neither x nor y data is shown in the right location on the bottom chart, but you get the general idea.
In the comments below I've added a link to what it's supposed to look like. Also, it looks like the thumbnail shows it correctly.
Edit: The scales get all messed up when publishing unfortunately so the neither x nor y data is shown in the right location on the bottom chart, but you get the general idea.
In the comments below I've added a link to what it's supposed to look like. Also, it looks like the thumbnail shows it correctly.
取消訂單:
Russia invaded Ukraine and made the price shoot up to $100 and then it dropped back down to $90, I'm not sure what it's going to do, lots of geopolitical uncertainty, stay tuned.