QUOTE(danmooncake @ Apr 28 2016, 04:32 AM)
I know it sounds crazy but oil bulls got the momo and it can't stop despite record levels high inventory levels.
Any kind of bad news, they just dismiss but good news like delayed rate hike, they go charging.
Next stop could be $50 here..
So, I'll just stay on the long side until things change around.
it's not all crazy.Any kind of bad news, they just dismiss but good news like delayed rate hike, they go charging.
Next stop could be $50 here..
So, I'll just stay on the long side until things change around.
weak usd, china positive news, reduced non-opec production.
just surprised how strong it kept going.
now that it is past 45, there is every potential it will move higher still.
there should be some profit taking coming soon after such hefty rises - for both crude and related stocks.
will consider going long at next dip.
Apr 28 2016, 09:44 AM

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