USOIL to spike; 40/ Barrel Mark Lingers Next--But WHEN? (LONG!)
With $USOIL taking a virtual dump on Friday's opening, it has done nothing but gain steam since the mid-point of Friday's trading. Down as much as 2 percent by noon, it closed up nearly 4 percent.
Now Over 35/barrel, and with state-openings coming one after another, Crude is due to make its run. This, of course, is great news for all with oil stocks and holdings that have been itching to correct. A potential date for the full-return of the crude market is, naturally, difficult to guess.
That said, projecting the harmonics of both crude and the major oil companies, places the potential return anywhere from early fall to the Christmas season/early 2021. With the recent climb back into the green, projections could easily place this in the earliest part of fall-- BUT! -- That hinges on COVID dying its death and not incurring the second spike that many epidemic experts have warned about. The sketchy nature of being unable to predict PEOPLE, their responses to a less-potent virus, is about as dicey as it gets. Even so, the point is, LONG on $USOIL.
Now Over 35/barrel, and with state-openings coming one after another, Crude is due to make its run. This, of course, is great news for all with oil stocks and holdings that have been itching to correct. A potential date for the full-return of the crude market is, naturally, difficult to guess.
That said, projecting the harmonics of both crude and the major oil companies, places the potential return anywhere from early fall to the Christmas season/early 2021. With the recent climb back into the green, projections could easily place this in the earliest part of fall-- BUT! -- That hinges on COVID dying its death and not incurring the second spike that many epidemic experts have warned about. The sketchy nature of being unable to predict PEOPLE, their responses to a less-potent virus, is about as dicey as it gets. Even so, the point is, LONG on $USOIL.
Comment:
Note: It closed OVER 4 percent, not "Nearly" 4 Percent. My apologies to my readers.