The chart below shows what I think is the major uptrend channel for oil. Notice the little red rectangle that we broke out of in March with a beautiful backtest of the top rail. The rectangle projects to 165 but the top rail of the major uptrend channel is alittle higher in price as we go out in time. The surprises come to the upside in bull markets and I have been cuffed upside the head a few times when I forget this most basic fact.
All the best to you folks trying to short this beast…Rambus
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PS: RIP Humanoid