Time to go long oil
- Thread starter DrEvil
- Start date
nice call DrEvil. I was tempted to reverse instead of just closing. Oh well. I'm flat for the weekend
WTI could go as high as $55 next week or two, but would be a bear rally to short.
Sure? If so, why?
Markets never go straight now. Bear rally could ignite on ECB announcement. $55 is previous support and potential future resistance.
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The supply issue won't work itself out until the end of 2H15. Storage around the world is at record levels for both crude and products. Banks and physical traders will be on the sell side until Q315 at the earliest.
Cool. Thanks!
Let's see what happens from here. : )
Let's see what happens from here. : )
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Oil Downtrend =friend;
A king @ Shell oil is working on natural gas for cars....................................................
I remember in Argentina, the hunting safari driver pulled up in a service station, they sold gas by the liter;
but he raised the hood of the land rover, hooked some thing like an airhose to something under the hood.It was natural gas, much cheaper than gasoline, sold by the liter.................................................
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Good luck!