I run an experiment on X
I shared a post with the inverted long-term WTI chart, hiding the reference to it and the prices, and I asked my audience on X a simple question: whether they believed that chart was bullish or bearish. 60% replied bearish and 40% bullish.
However, if you look at the money managers' surveys asking whether people are bearish or bullish on oil ~90% will answer bearish (and they are positioned accordingly)
This proves how the current oil prices are almost entirely driven by expectations based on a misleading mainstream narrative that we know is totally detached from any fundamental
