Oil rising be ready to sell

6 במרץ 2022

As war drums are beating and WW3 may be on the verge of becoming a new reality, oil is ripping the faces off of people shorting it. It's also ripping your wallet apart. I expect a sell-off at some point if it continues at this rate but probably not before making new all-time highs above $150/ barrel. I expected XLE to get to $135 over the next 4-5 years but now it climbing very quickly ut I believe that is short-term. I may be taking some profits around the $100 mark as I expect government control to come in. I am not sure what that will look like yet but if it is a subsidized market whether cash in people's pockets or giving money to oil companies to keep the price low, that's inflation so I expect those stock prices to continue to rise. In the short term, you can hear the negative talk that may trash these stock prices which is exactly why I want to be taking profits at technical places and be ready to buy on these bottoms.

XLE oil WTI