Post by
smallcaptdr on Oct 27, 2022 4:44pm
Another bullish day
With everything aside, Oil stayed in the green up $0.90 to $88 right now, but we are left with one more day and the question is, will Oil be up even $1 tomorrow, which would top this week off for Oil and share prices? US data came and went with no dramatic downside in their numbers even high Crude Inventories which usually add some softness to Oil prices this time had no effect and that's being focused on pushing Oil higher. Next week the start of Nov will answer a lot of questions about what to expect in Oil prices moving forward through Nov and how much upside is left still plus looking forward into Dec that's when they have decided to cap Russia's Oil and enforcing that could add the possibility of a situation occurring that will push Oil prices straight up to $100+ and I mean the complete shutdown of Oil and NG delivery would do it, there's a lot happening that's going to force Oil in one direction or another and that's having the giants collide in the first days of Nov OPEC vs FED from what we have seen in the past of OPEC cut announcement pushes Oil to $93 and in Sept the last FED announcement started the push of Oil to $76 so this is a bear vs bull beginning to Nov. Having high prices are great energy plays but will affect the economy and already gasoline is heading higher and higher desiel will keep Inflation from dropping. The FED will use recent data to dictate how aggressive they need to be with interest rate hikes, they're thinking that when Inflation is half from here they will take a break in hammering the rate hikes, it's going to be like a control burn of a wooden house, I've seen enough times in the past how hard and long it takes to turn around an economy that is spiraling lower from higher Interest Rates into a recession and we're talking about having stimulus as one measure to restart the economy but it's just not us, this rate hike quest is global and it's going to end up worse than they expected, typical government over correcting to the extreme. See what tomorrow brings but regardless this has been a great week so we'll know more at 9:30am tomorrow morning. What a great time to be in Oil plays!
Comment by
Moemoney42 on Oct 27, 2022 5:23pm
Captain obvious rambles on like a broken record again.. :-/ Must pain him to feel so irrelevant.. LOL..