1 June 2020
That gap (approximately … between 39 and 45) is about to be filled. Not many thought so (did you?). I do not know if the coming “first attempt” will succeed but with further OPEC (sigh…) meetings in the very near future (to discuss more production cuts?), I feel confident that if the first fails, there will be more attempts. Besides, it is my belief that gaps in charts are self-fulfilling. That is … get enough attention and it will fill out. The question is “how soon?”.
OIL POST NUMBER ONE
Next post: an options strategy to take advantage of the breakout from the top opening of the gap.