July 14, 2021 - (Gold Market Wire) - The Crude Oil nosedive, aka, "prepping for the mid-terms, while on our way to visit the Saudis" continues. There will be more as we get closer to the elections. Nothing moves the American voter like oil prices at the pump, and the Us is doing everything in its power to get prices lower before the election. Backing off the war plans (temporary only!), smacking the futures (PPT, thank you!) and emptying the SPR - which will need to be filled again when war encroaches. Its a mess out there, but forcing the low is just coiling the market for what is likely to be the most eye-watering rally oil has seen since Gulf War 1 (covid blow-out notwithstanding).

Next stop $90 is sure what it looks like if the trend line breech holds to the end of the week or month (preferable). Hardy souls can try a short here.

The relentless march of the Dollar isn't hurting one bit either. That's what let's us assume that the war planning is still in full motion. These are wild days.

Trading is very difficult, unless you're a volatility trader in options. The people who reached for the $150 and $200 strikes or even less aggressive call spreads got their heads handed to them. Crude will be back, after the nonsense of the elections is over, or until the Saudi's say they are too busy to see Biden. The roller coaster continues. The plan? Trade small and take profits along the way. Is the oil bull dead? Not in our book. It's merely resting.