Bullish on oil# Stock
C*a
1 楼
I think oil price would go much higher from here this year.
1. Unlike equities, when commodities start to move, in my view, they
usually have longer, stronger than more consistent trend (look at oil/sugar/
gold, etc). And crude oil just start to take off, just by looking at the
chart.
2. Pretty much no contango in near time and some backwardation in longer
term... probably a good sign for near term oil price, because oil holder
will replace long term holding with short term holding, driving the near
term oil price up.
3. driving season ahead.
1. Unlike equities, when commodities start to move, in my view, they
usually have longer, stronger than more consistent trend (look at oil/sugar/
gold, etc). And crude oil just start to take off, just by looking at the
chart.
2. Pretty much no contango in near time and some backwardation in longer
term... probably a good sign for near term oil price, because oil holder
will replace long term holding with short term holding, driving the near
term oil price up.
3. driving season ahead.