$USOIL passes 43/bar; Is 45 Next, or is there a retrace coming?

25 août 2020

USOIL has struggled for obvious reasons, COVID.

However, it climbed 43+ today and is mildly hyperbolic.

It would be surprising to see no retrace under 43, but in the moment, indications are the 45/bar mark could be sooner realized than previously thought: This should impact the oil giants, and personal pets HAL and LBRT, quite positively throughout the remainder of the trading week.

Keep an eye on the 45/bar mark, because that could mark a definitive recovery-point, a benchmark, for the oil giants. The oil-related stock's correlation to crude prices is there - but the timing is never as easy to guess. All systems should be go, and entry points are still available w/in reason on many crucial oil stocks - LBRT is now this trader's top holding for the time being.

HAPPY TRADING!

-BDR

25 août 2020

Note

That took very little time to get "OUR ANSWER" --> dipping back below 43/b, already. The climb is a long one!