Folks I made the call the other day to be buying the black gold, that is oil. After being bullish all last year, when everyone was calling $20 oil (LMAO), I FLIPPED BEARISH oil in the $70 range 100%. Rallies can go on longer than you expect and this one certainly did, but the $100 oil calls really confirmed my BEARISH thesis.

NOTICE where we have pulled back to. See that red line? That is a key moving average that held Oil up from 2012 to mid 2015. It is veryninportant and must confirm support but Oil was always going to come back and test this line at some point.

We are now here and you LONG the BLACK GOLD.

Originally posted on The Big Breakout. Steem blog powered by ENGRAVE.

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