Up or down ? Maybe sideways ? Doubt sideways.
I feel we run another $1 here maybe a bit more even a strong run to $12 over the next 2 weeks. Could see $11 this week ?
All this being said , we sold off far to much , and then Opec + supported the price and now , you can't gaurentee it but money is now flowing in and will continue . With the Opec + decision to support pricing smart money now sees this as a massive buying opportunity, and not for the bump to correct , because there is still 20 % to go to correct , and this will happen now this month , but now the free cash flow is in sight for many oil company's , as there debt is either paid in full or at levels where they feel comfortable distributing 75% of free cash flow on top of existing dividends.
Opec plus decision to support prices in my opinion was and will be the gift of this back half of the year in oil and gas.
We really got lucky , that outcome could of been either way , and we are even more lucky in that there seems to be only one sector who you here analysts say is good for investing, and that is oil and gas , and the rest is setting up for a crash. So we might get more or not might we are going to get more interest than normal this will drive the price higher , we are the flavour of the year ??
I can't say I have been apart of someting before it took off. Then again I can't say I was apart of someting where I lost a tonne of money going back to 2014 and hung in despite with a nice tax loss for later and doubled down near the bottom and now I ( we all ) almost look smart ! Lol.
Good luck all.
I felt like rambling today !! Lol.
Enjoy the weekend.
Craig