Comparision to Jan 2009, we found a bottom, just be patient
I guess we found our bottom on oil price like 35$ in 2009. The worst scenario is in price right now so I don't see the strength to push the price lower. Of course, there can be try to squeeze sl below 20$, but that's all.
It doesn't mean that it's going up right now, but seems to a long accumalation time, so if you are looking for a bottom with small risk, I think it's a good idea to buy and hold little longer.
It doesn't mean that it's going up right now, but seems to a long accumalation time, so if you are looking for a bottom with small risk, I think it's a good idea to buy and hold little longer.
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Btw, I hear a lot of analitics saying it's going much lower. Yeah, but what they didn't say that month ago? Their words are good buy sign.
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It's time to said that, I was wrong. Bottom is far beyond 20$.
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15$ on July contracts and May contracts -40$, it's pure madness