Whales - Insiders Opening Longs on OIL
#oil #usoil #wti #wtilong #spy #spx #s&p500 #spxshort
Trading Fam,
I’ve already indicated in a past post how the overwhelming majority of insiders are trading the SPX short and will probably be using retailers as exit liquidity.
I will not make this post on OIL long. On the technical side, we are still above every major SMA. We are still inside a very bullish descending wedge. Couple this with the fact that we are constantly acquiring new data regarding whales entering long positions on oil, and we have some very bad signs that this could be a fake stock market rally. Extreme caution is warranted.
I have posted yet another example of a huge whale here opening a nearly 18 million dollar long on oil ahead of supposed U.S.-Iran talks. Does this whale know something the average retail trader does not? 18 million dollars screams, “YES”!
✌️Stew
