ESG is bigger than you think
Ideas dont die: its the next big thing (with update on long term cycles on oil)
Hello Advised Traders,
The people responsible for the ESG movement have enjoyed success that is reminiscent of early adoption. But the entry of villians has really accelerated the idea. As will the common good, a thing you just know to be “good".
Government will have more money to pay bills for a few years and a lot of “savings” for the NEXT Congress to really get started on ESG.
Another Biden admin will seal the deal for a 35 year wave of ESG missions and disciples.
This isnt an attack on energy. In fact, I said in many trade idea posts over 2021, that there could be $250 barrel oil, that there needs to be more energy before we think about less.
The cycles on crude oil futures say that the market is bottoming.
Shares of XOM 0.00 have moved up late day, among others.
But $80 is monthly resistance.
So it could be that $80 will provide a breakout trade up on futures in the days ahead. It should be on heavy volume and very obvious when it happens. Intraday traders that see this happen will be watching a big breakout.
The longs will then start to work, as it is PROBABLY AN 80 DAY NOMINAL CYCLE BEGINNING ON OIL.
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