BIGGEST OIL DROP IN A YEAR ON BIDEN SECURITY PLAN, MAGNIFICENT 7 STOCKS DO NOT LIKE THE NEW DATA
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Biden’s Security Plan
Please click here for a chart of oil futures (CL_F).
Note the following:
- The chart shows a big run up in oil. When oil crossed over $90, $100 oil became the consensus in the marketplace.
- As the chart shows, the $100 consensus caused a short squeeze.
- As the chart shows, Biden’s security plan for the Middle East started gaining traction, causing the biggest fall in oil in a year. Biden’s security plan calls for Saudi Arabia to normalize relations with Israel in return for a security pact with the U.S.
October 5, 2023