The Most Likely Path of USOIL In the Next 1-3 Months
1. Tomorrow's market reaction to EIA's weekly report will be crucial in gauging market sentiment. With or without inventory build, tomorrow is most likely an up day for oil
2. OPEC understands that without at least some kind of agreement to alleviate the glut, oil is doomed and so is OPEC. So the chance of an agreement is high
3. Many other factors also favor a higher oil price, at least for the Next 1-3 Months
2. OPEC understands that without at least some kind of agreement to alleviate the glut, oil is doomed and so is OPEC. So the chance of an agreement is high
3. Many other factors also favor a higher oil price, at least for the Next 1-3 Months
Comment:
Now we go the report. I would rate the market reaction as neutral or slightly bullish. Let's see how the path unfolds.
Comment:
So far right on target.
