Thoughts on WTI Crude Oil

in #investing • 8 years ago

I'm predicting at least 10-20% downside from current levels for the following reasons:

  • Supply fears in Nigeria and following the coup in Turkey continue to recede.

  • The overall trend remains towards a stronger USD, reducing the price of dollar denominated WTI. This implies a positive reaction following the Fed this week

  • Gasoline inventories remain high and the "summer driving season" in the US is mostly over, with decreased refinery demand to follow

I'd be interested to hear others thoughts. What's your best bull/bear case?

#trading #finance #commodities #wallstreetbets
8 years ago in #investing by
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