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In the short term for sure, but the longer term is still downward. Currently trading in short range, but looks like the odds are downward once this range breaks down. Technicalls appear to be supporting down move and fundamentals are still weak in this commodity as mentioned in above notes. All this looks so clear and certain. But in markets expect the unexpected.
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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My first reaction was, I wonder how much of the increased demand is filling storage as opposed to real demand. Based upon this comment I assume we don't know... Quote "There are major doubts about the amount of fuels and especially crude disappearing into the country's strategic stockpiles."
