One Leads The Other
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)
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Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or ...
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