Stay Long MPC
If you went bullish on calls per my previous post, you are enjoying a nice pop today. My time horizon is longer so I am holding until $38.75 (the next fib level). The MA just crossed and I want that to marinate for a few sessions. You should be just playing with house money now if you bought the day or day after I posted.
This is technicals-only trade devoid of any fundamentals if that had to be said for this website! The narrative is refiners have been oversold for the past couple weeks. The market has realized that now. I'm not paying attention to anything in action in CL or any news about Nigeria. That is all noise to me.
The only thing I'm paying attention to is that MA cross and the two fib lines that define my stop/sell positions.
This is technicals-only trade devoid of any fundamentals if that had to be said for this website! The narrative is refiners have been oversold for the past couple weeks. The market has realized that now. I'm not paying attention to anything in action in CL or any news about Nigeria. That is all noise to me.
The only thing I'm paying attention to is that MA cross and the two fib lines that define my stop/sell positions.
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