Hi Everyone.This week has been a strange one due to the macro...

Hi Everyone.

This week has been a strange one due to the macro unwind in funds. This has set up a very very large move next week in oil. On a weekly chart oil has tested and broken the lower bollinger band - this move itself is a rare event but given news flow(forced unwind - read below) then there is a very large chance for a reversal to the upside if oil closes above 72(wti) …. In this scenario we test the upper band which is 90. Yes this sounds like bs but monitor wti and $72. The move above this will spark oil assets to spike.

Goodluck

PB

”....Energy hedge fund Westbeck Capital Management has also cut the amount of risk it is taking after hitting the strategy’s maximum loss limit on Wednesday, according to an investor document seen by Bloomberg. The hedge fund has lost 8.9% this month and is down 9.9% this year, according to the letter. “The extraordinary volatility in the fixed income markets has triggered a severe oil market correction,” Westbeck told clients in the letter. “We understand the collapse in treasury yields over the recent days has translated into large losses for a number of macro players, creating a VAR shock, forcing widespread risk liquidation including large oil positions.”A spokesman for London-based Westbeck declined to comment.”