The dumb retail shorts are shorting down here and covering above $50. I've been profiting heavily buying when all these nerds come out of the woodwork which is around here at the bottom and selling when they disappear, meanwhile holding a core position long until the end of summer. It's unfortunate others buy into their BS and keep losing.
Yes it will be volatile, no it will not crash. PPS will fluctuate between 45-55 as it has been doing UNTIL stockpiles go negative which will likely happen shortly. At that point we should start to see a gradual uptrend into the summer months. FOLLOW THE TRENDS and ignore the BS in between. Shorts are in the game to TAKE your money.
USD won't matter when the weekly stockpile starts going negative. The dollar dropping will just add fuel to the squeeze once it gets going making the $200 calls a reality rather than a stretch of the imagination. Shorts are running out of time and out of ammo as summer is almost here. Follow the multi-decade uptrend and toss all the other short BS to the side.
Oil is not going to $13 you dumb idiot. Hell, it's not going to break below January low. You need to lay off the pipe cause clearly its impairing your judgement you delusional short. Oil is on a 16 year uptrend moron good luck getting that trend to break. Keep shorting idiot, I'll keep buying and we'll see who is right in a few months. You'll likely be gone by then but I'll bump this post anyways to point out how wrong you were.
Hey moron short when the reports start coming out showing negative numbers by then it will be too late you're looking at probably initially a 10-15 percent surge off the bottom within a day with the massive short interest in oil.
Come summer which is right around the corner, actually starting right now since the WHOLE country is unseasonably warming up you will see an INCREASE in demand and refineries kicking back up to full scale rather quickly. In fact I have a family member that works at a major refinery that is getting all their cleaning done now EARLY in anticipation of an early season.
Also, apparently you did not look at a chart because oil hit a bottom on a 16 YEAR UPTREND. Good luck getting $45 to fall because it will likely NOT HAPPEN, lol. Major players are buying here for a reason because the bottom is in which is WHY the price is holding in the 45-55 range.
So have at it keep shorting, short all the way up to $70 cause that's likely where this will be sitting at coming July.