Oil continues to bring me early Christmas presents. Looking for 80-85 over the next few weeks. My vehicle for this move is Jan 39 USO Calls.
BB Update - The lower BB is starting to turn downward (indicating this could really rip to the upside). Often on a BB squeeze, we either see an upward move with a lower BB turning downward or a downward move with an upper BB turning upward. I'd be wary as a bear right now.
Finding it hard to see the USD getting much farther ... it broke the lower channel trendline today and may have finished it's major move up. It depends on where you consider
[4] of
v has ended. If it was a running flat corrective wave, we have one last fifth to finish to the upside. If it was not and the fifth ends up being this truncated fifth, then USD should be ready to take a breather here. One thing worth noting is, oil has made some nice gains without needing a drastic drop in the USD.
Oil continues to bring me early Christmas presents. Looking for 80-85 over the next few weeks. My vehicle for this move is Jan 39 USO Calls.
BB Update - The lower BB is starting to turn downward (indicating this could really rip to the upside). Often on a BB squeeze, we either see an upward move with a lower BB turning downward or a downward move with an upper BB turning upward. I'd be wary as a bear right now.
Finding it hard to see the USD getting much farther ... it broke the lower channel trendline today and may have finished it's major move up. It depends on where you consider [4] of v has ended. If it was a running flat corrective wave, we have one last fifth to finish to the upside. If it was not and the fifth ends up being this truncated fifth, then USD should be ready to take a breather here. One thing worth noting is, oil has made some nice gains without needing a drastic drop in the USD.
