It's not over until the 'Fat Lady' sings!

4 ביוני 2021

I am still long oil.

Mixed messages - but I don't have a sell signal, and I don't have indication of a market sell off as indicated by my crash monitor.

There are offsetting data:

• inventory builds
  OPEC output volume increases
  Re-opening economies (impact from general wage growth)
  Potential upside from the US infrastructure Bill
  Increased in gasoline prices (offset by supply builds)
  Rig counts