WHICH IS MORE LIKELY, $33 OR $75 OIL? $USO $UCO $OIL $UWTI $USL $SCO $DTO $SZO $DWTI $CLU5 $CL_F #OIL
At a time when stocks are hitting highs, oil prices have been cut in half. Relative to past prices, it is tempting to call oil “cheap” and buy it. Indeed, there are many bullish calls by analysts to do just that. I receive a very large number of emails, and investors are showing a high interest in buying oil ETFs here for the long-term. Let us first try to answer a very simple question, “Will oil go to $33 to $75?”
To answer, please take a look at these two charts.
Please click here for an annotated chart of oil price and U.… Please click here or the title below to read more.
July 27, 2015