Out of the crevices of Jeff Gundlach’s mailman’s ass crack we have decided that oil will rebound TODAY.
Yeah traditional technical’s don’t show shit, that’s for sure.
But what we analyze here, and hell maybe even Gundlach’s mailman does too, is that we have reached a broadening formation low. As you can see in the chart below, we have reached broadening formation support. So maybe every blind squirrel does, in fact, find a nut.
I have been looking for a scalp long in oil for sometime now, and was wrong the first time. This time, now that I have Mr. Gundlach on my side, I shall prevail. Energy bears have had their fun, now let me scalp my shekels.
Long a shit-ton of the Jan4 UCO 9 Calls as of literally right this minute – as we break the 60-min hammer off of broadening formation support.
Stop is at 8.20 (if the options are even worth anything at that point), with high end targets of 9.50 and 10.50.
Cheers Jeffrey!
