RE:Once again the markets sold offTrendmaker1 wrote: What's in store for tomorrow? will oil bounce back and head up to $85 or will it sell off? tonights trading could sell off oil before the weekend and with the fed's speeches tomorrow I can't see them saying that the economy is bullish so if they mention that they will be doing another .75% rise in December and talk about doing everything possible to slow the economy the markets might not like that.
And all this talk about $100 oil is ridiculous because we had $100 oil when the economy was bullish and demand tightness was maxed out and it didn't last long before it was sold off so how can we get $100 oil in a piss poor economy with all the troubles in the world like China COVID and Europe problems and global central banks raising interest rates?
And even if they cut production the price for oil is controlled by humans and they don't necessarily need to drive oil up to $100 because they can bid oil up to $90 or whatever. I think that oil will return to $70 oil again and oil is at $82 so a drop of $3 puts use into $79 oil. And the stock markets keep selling off and that points to a troubled economy coming.
Ok so you listed 6 different reasonswhy you are negative oil. Why then are you here lol! Off the meds again I see.