GREY:LSTMF - Post by User
Post by
whitehorn1on Aug 11, 2015 2:53pm
92 Views
Post# 24007946
oil needs to get into the 30's
oil needs to get into the 30'sI'm a strong believer for this sector to turn around need to take out the previous oil lows set this year. This will be for oil to get in the 30's and perhaps will get some capitulation for the bottom to be in and start the uptrend. The only thing holding this back is the economies "suck" throughout the world. I hope the USA increases interest rates this fall which have been hinting for the last year. The reason the markets were up yesterday was a hint of no increase. I knew the markets would be down afterwards and with a rate increase would show the world is in recovery mode. This will be a big plus for the resource sector including oil. That said, a 30 dollar oil price should be enough to be what the doctor ordered. A stagnant 40-50 oil price, especially with no growth in the economy could make this long term for the next 5 years.