As long as USO doesn’t exceed 67.33, I think oil is going to slip beneath this right triangle pattern. Crude oil, in general, I believe is going to have a weak 2023.
(Click on image to enlarge)
Should this transpire, the energy producers (XOP) are bound to follow. I’ve already got puts on XOP (below) as well as individual energy companies like COP, HAL, MRO, and MUR.
(Click on image to enlarge)
More By This Author:
Comments
Log in or sign up to join the conversation.