USOIL - My 3 Possible Plays Starting Today (7/12)

12 Tem 2020

See chart for possible moves.

I am expecting a short squeeze on oil despite the bearish headlines right now, but it can go either way i suppose.

Notes:
-Golden cross forming on the daily.
-Last Time Oil linitially started dropping US Indices went up (Esp NAS)... So i DO NOT think this is a signal to short Equities yet. I expect a massive vertical leap on equities here... Kinda like TESLA just did...


News:
zerohedge.com/markets/oil-set-plunge-opec-seeks-boost-output-2-million-barrels


nytimes.com/2020/07/12/business/economy/opec-russia-oil-production-coronavirus.html