October 19, 2016 2:44 pm / Published in Oil, USO

SHORTING OIL: A 100% RECOVERY FROM THE MARCH LOWS #USO #OIL

Long Term Trade: #USO

Oil is higher on API data.

The fundamentals that sent oil from $100 to $30 have not significantly changed, but sentiment has. The market is no longer fearful of a large collapse in oil, with confidence boosted by expressions of production freezes by various nations.
OPEC has agreed to freeze production around 32.5 million barrels a day from current levels of 3333.25. However, agreeing to freeze production and actually freezing production, are two different things.

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SHORTING OIL: A 100% RECOVERY FROM THE MARCH LOWS #USO #OIL

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