[inthemoneystocks]

The commodity oil is going lower, as I predicted a week ago. The $75 level was a major technical resistance point (seen on the chart) spanning back years and common sense told you not only would July 4th mark a high pivot, but President Donald Trump would start ripping OPEC to get oil down into the mid-term elections. Every political party in charge talks oil down into elections to get a few extra votes. This November is one of the most important elections in recent history. These factors all spell major trouble for oil. I have a first support target of $66 in the charts from my short alert at $75.00. The first target is just that, a quick bounce before oil heads even lower into November. The final target into November is $55.00/bbl. See you there!





Gareth Soloway

[Pops]

You only predict weeks or months ahead?
LOL
We demand forecasts in YEARS around here!

[Outcast_Searcher]

$this->bbcode_second_pass_quote('inthemoneystocks', 'T')he commodity oil is going lower, as I predicted a week ago. The $75 level was a major technical resistance point (seen on the chart) spanning back years and common sense told you not only would July 4th mark a high pivot, but President Donald Trump would start ripping OPEC to get oil down into the mid-term elections. Every political party in charge talks oil down into elections to get a few extra votes. This November is one of the most important elections in recent history. These factors all spell major trouble for oil. I have a first support target of $66 in the charts from my short alert at $75.00. The first target is just that, a quick bounce before oil heads even lower into November. The final target into November is $55.00/bbl. See you there!




Gareth Soloway

[onlooker]

https://markets.businessinsider.com/com ... e?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[Cog]

$this->bbcode_second_pass_quote('onlooker', 'h')ttps://markets.businessinsider.com/commodities/oil-price?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[jedrider]

$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('onlooker', 'h')ttps://markets.businessinsider.com/commodities/oil-price?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[asg70]

$this->bbcode_second_pass_quote('onlooker', 'h')ttps://markets.businessinsider.com/commodities/oil-price?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[Outcast_Searcher]

$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('onlooker', 'h')ttps://markets.businessinsider.com/commodities/oil-price?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[Outcast_Searcher]

$this->bbcode_second_pass_quote('jedrider', '')$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('onlooker', 'h')ttps://markets.businessinsider.com/commodities/oil-price?type=wti
WTI $44 as per Short once it hits $40 kiss the good times goodbye

[shortonoil]

$this->bbcode_second_pass_quote('', 'G')et on here and make a SPECIFIC prediction for oil

[shortonoil]

$this->bbcode_second_pass_quote('', 'U')h we have had sub$40 bbl oil before and didn't resort to eating long pig. I'm sure you are trying to make a point. But no one here knows what it might be.

[FuelShortageComing]

The rich are about to become poor real fast. All banking records are stored on digital medias. Once the electricity goes out the rich become poor right away. Sweden is done. They moved to digital currency. No paper currency in Sweden. How is mass migration working out for you globalists ???????????????????????????????????????????????

South Korea has a LOW population (56 million). They will never go back to pre-corona manufacturing level.

it is just the flu people.


https://twitter.com/jenniferatntd/statu ... 2497573894

loooooooooooooooooooooooooooooooooooooooooooooooool

[evilgenius]

I think you are more likely to see solidification of certain trends. The one towards automation seems a shoe in. The world is somewhat automated. It's not hard to imagine a degree of automation wherein this virus would have little impact, even if it were the zombie apocalypse. If the West doesn't get that, the East will.

Why should the oil price visiting these levels this time mean it is the end? Even if low prices are an indicator of such, why this time? The coronavirus is not necessarily systemic. Low oil prices should have the same stimulative effect upon the economy as deficit spending. Interest rates may come down. I do get the panic over debt levels, especially since their payments are structured monthly.

Everything is structured monthly, pretty much. The modern economy isn't built to handle a stall longer than a few days. How are people going to make those payments when they haven't got money coming in? Well, at least in the US. The Europeans have to deal with a regulatory and social environment where their employees take quite a few weeks off per year. They have larger allowance accounts to deal with things like this. They can easily swap money from the time off accounts to the sickness time expense accounts. The US can't. Here's where there is potential payment for not treating employees better. Payment for all those years of big companies lobbying against worker's rights. I bet that realization is why the euro went up over the last few days of the previous week. The dollar went down, in comparison. The ten year is at record lows, meaning people are flocking to it, and still the dollar sank in comparison. Gold also took a dive.

[Cog]

$this->bbcode_second_pass_quote('FuelShortageComing', 'T')he rich are about to become poor real fast. All banking records are stored on digital medias. Once the electricity goes out the rich become poor right away. Sweden is done. They moved to digital currency. No paper currency in Sweden. How is mass migration working out for you globalists ???????????????????????????????????????????????

South Korea has a LOW population (56 million). They will never go back to pre-corona manufacturing level.

it is just the flu people.


https://twitter.com/jenniferatntd/statu ... 2497573894

loooooooooooooooooooooooooooooooooooooooooooooooool

[bochen777]

$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('FuelShortageComing', 'T')he rich are about to become poor real fast. All banking records are stored on digital medias. Once the electricity goes out the rich become poor right away. Sweden is done. They moved to digital currency. No paper currency in Sweden. How is mass migration working out for you globalists ???????????????????????????????????????????????

South Korea has a LOW population (56 million). They will never go back to pre-corona manufacturing level.

it is just the flu people.


https://twitter.com/jenniferatntd/statu ... 2497573894

loooooooooooooooooooooooooooooooooooooooooooooooool

[wildbourgman]

If we have any short sellers here I suggest linking up to some social media with some oilfield folks. Get a roughneck facebook friend.

When the first drill ship that gets shut down and quarantined this will cause severe chaos and severe pain in the offshore drilling space. There you go. I can't say much more than that at this point but I think you'll see drilling companies that will be hurt in a major way..

[JuanP]

Russia rejects new production cut agreement with OPEC. Maybe the Russians are trying to burst the shale oil bubble? I believe that the Russians are better positioned for an oil price crash than the Americans are at this time. The Russians have been saving money for years while Americans keep borrowing like there will be a tomorrow. Would this be a good time for Russia to sink oil prices and pop that bubble? It could be.
https://www.rt.com/business/482499-opec ... ction-cut/

[Tanada]

$this->bbcode_second_pass_quote('JuanP', 'R')ussia rejects new production cut agreement with OPEC. Maybe the Russians are trying to burst the shale oil bubble? I believe that the Russians are better positioned for an oil price crash than the Americans are at this time. The Russians have been saving money for years while Americans keep borrowing like there will be a tomorrow. Would this be a good time for Russia to sink oil prices and pop that bubble? It could be.
https://www.rt.com/business/482499-opec ... ction-cut/

[rockdoc123]

There is no ulterior motive amongst the Russians. They are simply doing a calculation that involves balancing total revenues, revenues per bbl and market share. If by lowering their production a considerable amount it increases prices back to where they were but results in a lost portion of market share it really makes better sense to wait for the price to rise again. OPEC and now by analogy Russia whole goal has been to balance market share and price. Having a higher price doesn't help if you've lost points of sale.