I have been watching their price as of lately and has been anticipating for a short on this pair. XTIUSD. Crude oil… my country’s lifeblood. If I were a greedy billionaire, Will I short this at 73.05 , where the optimum level of massive supply are. Which means I am killing my own country’s revenue!
Life can be cruel at times, whilst one profit from the other. But this, again will turn Oil price around soon. Meaning our biggest Oil company will continue their spending cuts and make my other Marine division business of my own company suffering if I were to win any of its Marine Tender.
For the sake of a long term business in the oil and gas marine company, I might just not trade this. Not to mention my country at stake on this oil price.
The question is, will I be Gordon Gekko with his gang of Wolf of Wallstreet or should I be like Bud fox ?
See chart below..
Approaching supply to its very moment….
I hope OPEC sees this …