after that bs 6mm draw it has been getting hammered. Stay tuned for more bearish price action. Looks like everyone ran out of money to buy this garbage.
Oil is going higher. It did get hammered today, but these sustained pullbacks are followed by new all-time highs. Very healthy for anyone long oil.
This recent oil trading reminds me of the Nasdaq in 1999 when companies that had never make any money were selling for $200 a share. fundamentals mean nothing in this oil market 'irrational exuberance'
It's all about fundamentals for oil, which are very strong. For the USD on the otherhand... Oil should be priced in Euros.