/biz/ - Business & Finance

Now for athabasca, since this is my largest position and similar for you as well in this thread, The chart is virtually identical to the oil chart so no explanation is needed. However do note though that the red line on the RSI is still pointing downwards whereas on the oil chart it is pointing upward. This means as I interpret, that as SOON as oil breaks it's embedded oversold status, you will have about ONE DAY MAYBE TWO, to buy back in. HOWEVER, I see the oil price dropping over the course of the next month or so, so I WILL NOT be buying back in for a couple of weeks, UNLESS my downside price targets are hit. I expect that the next federal reserve meeting is going to be the ultimate end all be all, make it or break it for the commodities and inflation "trade", The fed doubled down and whipped their dicks out with a .75% bp hike. They have to do this again at the next meeting or they lose credibility and we all know how unlikely it is for this to happen. Anyway, whatever happens, I will not be buying back in until we get closer to that meeting OR my price targets are hit. Just because we leave embedded oversold status does not necessarily mean I will buy back in and I don't recommend any one else does either. That meeting next month is too big of a catalyst.