I am not calling for oil armageddon, BUT there are certain similarities to what happened for the large drop a while back. To the shorter Term analysis I do think a lot of the price movement for a positive note out of OPEC have been priced in. I cannot imagine a sustained rally coming from that announcement without a 5-8% drop first.
Hope this helps anyone out
For those that like to allocate their portfolios VS. active trading. Should take a look at this ETF. It is one of the cheapest on the market.. Now to the Asset class, it will pay you over a 4% yield from where it is now. An entry below 90$ a share will give you a higher return on your investment over the next year. That being said, I would NOT sell all my equity...
I believe a short Term Pullback to the 48.50-49.00 level will occur this week before going higher into the OPEC meeting. Although I do think some of the upward price action is already priced in with a positive signal from the OPEC committee..
