[BREAKOUT] OIL POPS 50 DAY MOVING AVERAGE
The Oil range has been riddled with all types of trader manipulation including a threat from middle eastern oil ministers. The only traders smiling now are the ones who bought dips consistently over the past few weeks.
The range was a setup for a large breakout. Getting traders used to earning for dumping at the top of the range created a dip buying opportunity for large players. The breakout is timely and syncs up with the flow of money out of the dollar and into assets with a positive carry.
DXY under pressure and China stimulus a conversation worth focusing on reveals appetite for value relative to the dollar.
The next clear level of resistance is trading at 87/bbl.
The range was a setup for a large breakout. Getting traders used to earning for dumping at the top of the range created a dip buying opportunity for large players. The breakout is timely and syncs up with the flow of money out of the dollar and into assets with a positive carry.
DXY under pressure and China stimulus a conversation worth focusing on reveals appetite for value relative to the dollar.
The next clear level of resistance is trading at 87/bbl.
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