CJ: Summer Driving Season Is Kicking Off In May And C$3CJ has big torque to oil prices because it's very oil-weighted. And the summer driving season is coming in May, which is another positive key catalyst that will keep oil prices at the current levels. Summer driving season traditionally increases oil demand, which is a key factor that will accelerate the short covering and short squeeze in the next couple of weeks.
So mark my words. CJ could reach C$3 by the end of March or early April.