RE:RE:RE:RE:blowout earningsOil has held steady around $40 for almost 2 months now on its way back up. It is purposefully being held back at this level to nail in the coffin to shale hypergrowth. Couple more months maybe and then it will move up as we get closer to vaccine and inventories normalize.
I guess I am trying to preach to day traders with a long term strategy in mind, and that won't work.
ItsRightNow wrote: fleeee wrote: There will be no more lock downs period where it matters, economies simply cannot afford it. Oil may float around $40 for some time, but will not go back to $30 period. Oil is imperative to global standard of living, OPEC wont make sama mistake twice in this pandemic. Short seller posters for short funds are relentless coming out of the cracks.
ItsRightNow wrote: Wait till next week.....Q2 and possible lockdown due to more covid cases....oil is not a hot commodity at the moment......$30 oil possible again
I hear you but at this point nothing would surprise me. If you forget what you think or charts just go on sentiment....oil is sadly in deep trouble