WTI Crude Oil: Friday 23 July 2021
Crude remains classified in a “Sell the Rip” regime since the 7th of July and several dominant cycles into the summer of 2019 in WTI Crude Oil point to a possible beat in Sep/Oct 2021. This could line up with a period of weakness in stocks as outlined in the previous report.
Should WTI find its way to 77/80, I will be looking at option trades to play a swift move to 57/62. Likewise, in the 57/62 range, I will be looking at bets for a run to the 90s.