Post by
TonyDj on Sep 30, 2016 2:01pm
The Short Traders got clobbered.Sentiment is changing.
Oil prices must and will go up. Okay, when? In reading everything about this subject for years, the number one driver of oil prices nowadays is not all the numbers we are bombarded with but the sentiment of traders. Today oil will rise only when futures traders figure they will make more money going long than short. This hasnt happened yet but the fundamentals ensure it will. And when it does, the speculators will pile in and WTI will blow through US$60 quickly and likely not slow down thereafter. This will set the stage for another massive ramp up ensuring yet another crash. Because volatility is not only assured but required. By David Yager for Oilprice.com