The oil markets are now showing signs of mass long buying positions by the commodity index funds, again!
Over the counter swaps are a great way for a behemoth sized funds to run the market in one direction from behind the curtain. The fundamental news about Russia is an excuse used by media writers who wonder why the market decided to go up five dollars today, and not at the beginning of the conflict.
This is precisely why we need to stick to the technical charts in this controlled market. The parabolic overlay on top of the daily chart will give a commodity broker or a trader an even playing field with the manipulators.
I’m not a hater because of high gas prices. Compared to GDP, gas hasn’t been this affordable in years. I and my clients will make money whether the market goes up or down!
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