Oil has me puzzled
Updated
I am on the fence here... i am seeing a tweezer bottom on the daily timeframe. But nothing else implies that the decline is over. Indicators show nothing.
The price even reversed in a nonsensical area...
I have plenty of reason that a 7-8 year oil bull run is in the cards, has it already begun? are we revisiting the supports below? does it crash with the rest of the market before springing to life? is it the cause of the crash? (inflation)
So many questions... just have to watch and see. My oil stock of choice (since i suck at doing due diligence) is OXY.
I chose OXY because Warren Buffet already vetted the company.
Another interesting stock is ATH, a Canadian one. It has showed extreme relative strength to the rest of the oil stocks in the world...
No matter if we go lower or higher right now, I think it is time to pay very close attention to oil, because massive opportunity awaits this under owned asset class.
The price even reversed in a nonsensical area...
I have plenty of reason that a 7-8 year oil bull run is in the cards, has it already begun? are we revisiting the supports below? does it crash with the rest of the market before springing to life? is it the cause of the crash? (inflation)
So many questions... just have to watch and see. My oil stock of choice (since i suck at doing due diligence) is OXY.
I chose OXY because Warren Buffet already vetted the company.
Another interesting stock is ATH, a Canadian one. It has showed extreme relative strength to the rest of the oil stocks in the world...
No matter if we go lower or higher right now, I think it is time to pay very close attention to oil, because massive opportunity awaits this under owned asset class.
Note
I am looking to buy around 75-76...
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