Bottoms Achieved & Gaps to FILL #OOTT
As oil tanks become filled to capacity, Oil cuts will reduce and inflation will raise once COVID ends and the world enjoys 10$ round trip flights and 0.96$/ gallon gas for their summer vacation with their Trump check. Things will get better economically, and Oil is undervalued it's sick.There are so many fundamentals I exhausted on yesterday's research and analysis of the underlying factors so please have a read through those. My fundamental long bias now results from simple supply side economics. In conjunction with this, many to nearly all over-leveraged mid and large cap oil companies and their contracts (strategic partnerships/contractors) have fallen and will be consolidated. This will lower multiples, and force a much clearer focus to bottom line effenciens and choke points to very low acceptance thresholds.
The Alliance between Opec and Russia may cease headlines for now, allowing algo's to let go and fundamentals take over in a natural market again.
OPEC will cut 9.7 million bbl's per ay, just below the proposed $10 million. This is a lot of oil and is capable of suppressed asks to sustain bullish rallies. Futures now showing 30$ a bbl .. thus, I'm now long oil . Big time.
Stopposses will be updated when I enter long. All oil long entries closed..
10:37:07 ( UTC )
Mon Apr 13, 2020
The Alliance between Opec and Russia may cease headlines for now, allowing algo's to let go and fundamentals take over in a natural market again.
OPEC will cut 9.7 million bbl's per ay, just below the proposed $10 million. This is a lot of oil and is capable of suppressed asks to sustain bullish rallies. Futures now showing 30$ a bbl .. thus, I'm now long oil . Big time.
Stopposses will be updated when I enter long. All oil long entries closed..
10:37:07 ( UTC )
Mon Apr 13, 2020
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