Veren Inc T.VRN

Found support at $77-

[smallcaptdr]

I look forward to days like this to reload my stockpile and this week has been extremely busy for me so today is the first day that I have the freedom to move around between Oil and Gold stocks. Oil at $77 is cheap with everything considered. Buy to add or buy to average down now is the time. China had bullish growth, the US had a -4+Mil draw on Oil Stock and both the US and Europe still have a stealth economy at the very worse Oil will hit $75 but at some point, Oil will rebound and when it does then it'll take a run at $85 plus OPEC cuts are coming up so keep a stiff upper lip don't panic sell because in the Oil Market things change fast.

Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Commodity Forecast 2023/2024 - was last updated on Thursday, April 20, 2023.

Commodity Forecast 2023/2024 (tradingeconomics.com)

[rusty777]

Hey Smallcap I am not sure we are seeing any sort of bottom yet if past history is any indicator we should be expecting a drop into the 60's again - they seem to be plainng the same games over and over. sigh... Good Luck - in the medium term I think you are safe in any event as it will bounce back to the 83 level -  Rusty

[Anschutz]

If we're making calls for a bottom, I see continued fall and support at $73. I'm anticipating a fairly quick and steep drop as energy resets for another run higher heading into June/July.

[Moemoney42]

Hey Anschutz are you still waiting for that 8.40-8.50 level to get back in..?  Quote: "No I didn't jump back in.  Sitting on the sidelines.  At the moment I'm looking at a re-entry point around 8.40 to 8.50."

[Anschutz]

I never got the price I was looking for.  It became clear it was reversing so jumped back in at 9.20. Waited longer than I should have to get back in, but been burned too many times jumping in too soon.  I dumped all again last Friday.  I'm now back on the sidelines.  My plan is to jump back in perhaps in a couple weeks.  I've been away from the board for awhile.&

[Moemoney42]

Yeah I hear ya.. that's why my first question when it was in the $8.65 area if you managed to buy back in.. looks like that was the low after you took profits.. tough call lately I agree.. one headline one way or another in a given day seems to change the direction short term.. I'm still of the opinion that long term we'll have stability in both crude and share prices.. now if we