Disliked2018 oil bets. This Friday we broke $60 mark for US Oil futures. My guess is the trend is up for 2018. Looking for new highs in 2018 Probably see and test $70 some time in 2018Ignored
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Disliked2018 oil bets. This Friday we broke $60 mark for US Oil futures. My guess is the trend is up for 2018. Looking for new highs in 2018 Probably see and test $70 some time in 2018Ignored
DislikedAgreed with previous poster. A short-term correction would actually be healthy. But if you look at data (i.e. demand vs. supply) can see demand continuing to grow faster than supply. As long as that remains true, the crude oil bull market will remain intact. This being said, the commodity has been looking overbought since mid-November looking at simple technicals (e.g. RSI) or looking speculator positions on the CFTC.Ignored
DislikedWell, it has been sometime since I did my last Oil trade, which to remind myself was a loss, not a big one but a loss none the less so I opened a short now at 63.90$ but a small one, purely based on technical analysis because the fundamentals don't really favor shorting and will be targeting 60$ optimisticallyIgnored