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>> No.17416758 [View]
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17416758

>>17416663
>they're just greasing the gears for another big dumparino
There is a mildly bullish case for oil right now that was in place prior to Corona dump phase 2. OPEC wants to cut production. They would have already if not for Russia stalling. All other member countries want to cut except for Russia. If market does a rebound and the March 6th OPEC meeting results in a temporary production cut, oil should move to mid to high $50 territory. Also, longer term, once Corona chan tapers off and Chinese factories get back in to swing, their oil demand will be insatiable. I am very bullish on oil this year for this reason. I'm not going to long hodl it but it's tippity top of watchlist for swing trading.

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