The G7 decided to release 100 million barrels of diesel reserves over four months. They announced this in a joint statement. Oil prices went down. Your technical patterns remain equally useless but now they look slightly different on the screen.
Seven countries got together and coordinated a release of strategic reserves because diesel prices were high. This required international cooperation, diplomatic effort, and synchronized timing across multiple governments. None of this will show up on your MACD histogram. Your Fibonacci retracements do not account for geopolitical resource allocation. The head and shoulders pattern you drew yesterday does not care that Germany just agreed to tap its strategic petroleum reserves.
The Saudis are reportedly planning an attack on Houthis. This is also in the headline. This would affect oil supply chains in the Middle East. Your stochastic oscillator was not built to process military conflict in Yemen. The RSI does not have a setting for "Saudi Arabia launches offensive military operation." You cannot backtest an airstrike.
Retail traders will now redraw their support levels. They will adjust their trend lines. They will recalculate their pivot points. They will do all of this with complete confidence. They will explain to anyone who listens that the real move happens at the 50-day moving average. The 50-day moving average does not know that 100 million barrels of diesel just got deployed by seven nations acting in concert.
The chart moved because governments intervened in physical commodity markets and because a regional conflict might escalate into supply disruption. Your Elliott Wave count remains f*cking astrology.
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