Watch those Oil extremes

Crude Oil has fallen 11% over the past 15 hours.

Avid readers of my work will have noticed that this weekends edition of Macro Extremes featured Brent and WTI Crude Oil at overbought extremes.

This note is not about entering any type of Short Oil trade.

I’m saying that it wasn’t time to chase Oil prices higher.

My June 13, 2025 note titled, “I’m not buying Oil on the sound of cannons“, warned that it was too late to buy Oil AND the point to buy was at the $54-$55 level suggested in my prior writings.

The ‘fat part’ of the trade had been seen and there was risk and probability of a decline.

I’m not buying Oil on the sound of cannons

Oil is moving into new territory

It’s important to not get torched chasing the momentum when extremes are being observed.

June 24,. 2025

by Rob Zdravevski

rob@karriasset.com.au