Oil - Possible Wyckoff Accumulation
Idea for Oil:
- Oil seems to be setting up for an inflationary shock event in the longer timeframes.
- Understanding the trend of oil prices can help in market selection and portfolio construction.
- Oil has broken out of a falling wedge.
- There was a Wyckoff Spring from Hades as price went negative!
- However, lower highs, lower lows, and volatile sell-offs are still a sign of weakness.
- Oil has shown that its price can go negative, so a relatively low price should not be mistaken as a bottom.
- Something to mention is that Biden has shown his international non-interventionist stance with the Israel-Palestine event, and I speculate that he is turning his attention toward domestic population control, from the UFO disclosures. This is a signal for volatility in oil during his term.
GLHF
- DPT
- Oil seems to be setting up for an inflationary shock event in the longer timeframes.
- Understanding the trend of oil prices can help in market selection and portfolio construction.
- Oil has broken out of a falling wedge.
- There was a Wyckoff Spring from Hades as price went negative!
- However, lower highs, lower lows, and volatile sell-offs are still a sign of weakness.
- Oil has shown that its price can go negative, so a relatively low price should not be mistaken as a bottom.
- Something to mention is that Biden has shown his international non-interventionist stance with the Israel-Palestine event, and I speculate that he is turning his attention toward domestic population control, from the UFO disclosures. This is a signal for volatility in oil during his term.
GLHF
- DPT