100% chance oil will see $65 in the future
95% chance oil will see $50 in the future
90% chance oil will see $40 in the future
75% chance oil will see $30 in the future
60% chance oil will see $25 in the future
Sure, if you want to trade the ups and downs in the meantime, then go ahead.
But if you think oil will NEVER drop below $70 again, you're 100% dead wrong.
Our next recession will send oil prices plummeting
I think oil will turn around before it hits $100. The net long positions of commercial and non-commercial traders are at the highest. I'm not talking about open interests. The volume is impressive. Yes, it's overbought. And It's vulnerable to profit taking. But it's not going to last for a long time. My target is $101.40.