@Stockbeast23 the Trump trade for sure. $DWT is up massively and most green energy stocks I own or follow are all down. And it makes sense if the GOO has the potential to roll back or eviscerate the IRA. They will do it even if the vast majority of jobs created are in Red states. Look at their efforts to destroy Obamacare even though a huge percentage of those helped were poor people in Red States.
$dwt
Truth Social CEO Alerts Congress to Major Stock Manipulation Designed to Hurt Trump, Investors. https://thenationalpulse.com/2024/04/25/truth-social-ceo-alerts-congress-to-major-stock-manipulation-designed-to-hurt-trump-investors/
$VET $KLXE $DWT $BORR $USWS The United States is looking for a replacement for Russian oil from its former opponents, offering dollars in exchange for sovereignty.
Biden said he was ready to continue lifting sanctions against Venezuela if the local opposition "makes progress" in dialogue with the authorities.
Translating from the language of American diplomacy: "we will allow you to sell us oil if you allow our opposition to rule you."
▪️What's going on? After the introduction of an embargo on oil from Russia, the United States began negotiations with Venezuela on the lifting of sanctions against the oil industry.
Already in May, Washington allowed Western oil companies to work in the Venezuelan market, removing some of the restrictions that had been in effect since 2019.
▪️Why is the USA? The rejection of Russian oil caused the highest inflation in the United States in the last 40 years and led to a record increase in gasoline prices.
U.S. oil may retest a support at $70.78 per barrel, a break below which could cause a fall into $68.66-$69.72 range.
The deep fall on Monday suggests an extension of the downtrend from the July 6 high of $76.98. The trend is riding on a wave (c) from $74.23.
A projection analysis suggests a target zone from $62.70 to $67.10, while a retracement analysis on the uptrend from $65.21 reveals a more precise range of $68.66-$69.72.
Resistance is at $72.10, a break above which could lead to a gain to $72.91. On the daily chart, the big black candlestick signals a drastic switch of the market sentiment. It also suggests a further fall on Tuesday.
The current move still observes a set of projection levels on the rise from $61.56. Given that oil pierced below $71.32, it is likely to fall to $69.02, which is within the range of $68.66-$69.72 (hourly chart). $DWT $UWT $BNO $DBO
In the week ending July 30, we estimate that the stocks of refined crude oil products at five major ports (Amsterdam, Antwerp, Fujairah, Rotterdam, Singapore) likely increased to 109.70 MMbbl (+0.13 MMbbl w-o-w). The annual deficit has narrowed to -19.05 MMbbl (from -22.00 MMbbl a week ago). See more charts here > https://bluegoldtrader.com $DWT $UWT $BNO $DBO
