CRYPTO TICKER

powered by Coinlib

Friday, October 4, 2019

OIL CAN’T WAIT FOR THE WEEKEND

“It seems like oil has been saying this for years!”

Mostly a dead day, with little reaction to NFP … yesterday’s ISM services report
had a classic panic oil sell short term bottom … we’ll see if it holds next week
… until world economic stats stop dropping and things stabilize or growth
returns, don’t expect rallies in oil to go very far … unless there is another Saudi
Arabia attack or supplies are threatened by Iran, price looks to go into the 40’s
… only that geopolitical uncertainty is supporting price at the moment.

In other words, nothing new under the sun for oil … until the Sunday blog update
mi amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas


No comments:

Post a Comment