Wednesday's EIA reports are a strange experience, we have often had many good counter trend or counter assumption plays, as well as being one of the seemingly most leaked reports.
Since I added some new calls to USO before the EIA report at 10:30, USO has taken a pretty nasty intraday dip, this wouldn't be the first time I have gone through this with USO and still managed a profitable trade.
Here are the most current charts.
1 min leading positive
2 min leading positive.
I can't say I see a catalyst in the $USD at this point, but I'm still hanging in there with the May calls.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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