RE:RE:$74+ OilLOL.. there's no reasoning with smallcrapper, he swings back and forth like a pendulum on a clock, then has the nerve to say he called whatever move the crude price makes.. he's a joke, and rarely, if ever, responds to his blatant soft bashing.. he day trades with an agenda to (in his mind) sway shareholders to fall for his BS to acheive his few pennies a day swings.
I know for a fact he's been on the wrong side of the trade many times, by his own posts.
Then you have the fact that he clicks his own posts to make it seem like he has followers and influence... THAT's freaking hilarious..! I've said this before and will repeat, he's a sad little man with his childish games.. either that, or he works for a boiler room hedge fund that's sole goal is to sew doubt and create confusion..
Anschutz wrote: Wasn't it just yesterday you said $75 was the bottom? I get that you are forecasting based on daily events and therefore will change... but what good is forecast that gets revised daily... unless you are day trading.
As a counter balance to your optimism, OPEC+ is quoted today that they see no need for additional cuts given current price/environment. Federal Reserve meets next week with anticipation of a rate hike (which will lower the price of oil). Energy pundits stating US oil exports are what's causing weekly reports to show draws. Talking heads today on business news channels all have begun pumping tech like Meta and Alphabet (trying to draw investment $ back into tech).
I still think it's possible we see WTI break down to low $70s before the bottom is in. Maybe next week. I do agree this recent decline is getting long in the tooth and set for a rebound if your swing trading.