CL1 CRUDE - UPDATE - BREAKOUT TODAY ? Split view
Oil is looking like it wants to break out today or at least this week ! If ya'll bought 3/4 ton trucks recently...you're bout to feel the pain at the pumps !!
The news is doing a good job to try to blame the run up on oil on the weather situation in Texas..( Im in Texas San Antonio.....it's cold AF !! ). but if you look at the monthly chart on the right....you'll notice we've been on a tear for a long time now. With the new Biden presidency and his stance on oil....is the real catalyst that really put this recovery into overdrive. I find it funny that almost every talking head was on tv in the recent months explaining how no one is investing in oil....no etfs wanted it in their funds....etc . Meanwhile they were buying behind the scenes. Buffet released his documents yesterday and i think he disclosed that Berkshire took out like 48 million shares of Chevron ! All the talking heads also said Tesla was gonna file BK when price dropped to 180 dollars a share .....now look at it. Follow the signs not what they "WANT" you to know.
The news is doing a good job to try to blame the run up on oil on the weather situation in Texas..( Im in Texas San Antonio.....it's cold AF !! ). but if you look at the monthly chart on the right....you'll notice we've been on a tear for a long time now. With the new Biden presidency and his stance on oil....is the real catalyst that really put this recovery into overdrive. I find it funny that almost every talking head was on tv in the recent months explaining how no one is investing in oil....no etfs wanted it in their funds....etc . Meanwhile they were buying behind the scenes. Buffet released his documents yesterday and i think he disclosed that Berkshire took out like 48 million shares of Chevron ! All the talking heads also said Tesla was gonna file BK when price dropped to 180 dollars a share .....now look at it. Follow the signs not what they "WANT" you to know.
