Monday, December 5, 2016
Crude Oil Outlook: A Trading Range With Some Upside
I own some crude oil but I am not a good market timer or a good trader. My view is that we are in a complicated bottoming process that could last a couple of years. So far the trading range has been between 30 and 40 dollars a barrel, it will likely be a little bit more on the upside of that range. 60 dollars a barrel is not an unusual price for crude oil. (United States Oil Fund LP ETF (USO), Nymex Crude Oil futures, Marathon Oil (MRO), Exxon Mobil (XOM), Energy Select Sector SPDR ETF (XLE))
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