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Goldman Sees Buying Opportunity in Oil’s Recent Dip

From bnnbloomberg.ca

Goldman Sachs Group Inc. is confident in crude’s upward trajectory even after banking turmoil caused the bank to tamp down its price forecasts this year, according to Jeff Currie, global head of commodities . “We would argue you are buying the dip at this point,” Currie said during a Friday interview with Bloomberg Television. “I have never seen a market sell off that sharply, but retain a bullish structure.” Citing encouraging macro data from China, Goldman still sees the nation’s rebound reinforcing a “solid recovery” into the latter part of the year. The next catalyst for oil prices to rise is solid draws on a ... (full story)

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  • Category: Fundamental Analysis