The way most markets work when you have a big collapse, there is a bounce, often called a dead cat bounce and then after a while you have a retest of the lows. I would suspect that crude oil is going to retest the lows which was in the 40s or 50s depending if you are talking about Brent or WTI. But yes, I would not be buying crude oil at the moment because I am looking at a retest of the lows. I expect that test to hold.
Trading tickers: Nymex Crude Oil futures, United States Oil Fund LP ETF (USO), Exxon Mobil (XOM), Energy Select Sector SPDR ETF (XLE), Halliburton (HAL), Marathon Oil (MRO)
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.
- ► 2017 (169)
- ► 2016 (223)
- Crude Oil: Supply & Demand Situation
- Is The Commodities Bull Market Over?
- Gold: 50% Corrections Are Normal
- Podcast: Gold Mystics Need To Be Washed Out
- When Will Gold Make Bottom?
- Podcast: I Don`t Have Much Use For Money
- Oil Prices Going Down Will Remove A Lot Of Supply
- Crude Oil: Retesting The Lows
- Iran`s Impact On Oil Prices
- Nuclear Deal: It Will Lead To A Test Of The Lows I...
- Is Crude Oil Going To Stay Down Forever?
- Video: Oil Is Not Staying Down For Long
- Crude Oil Will Probably Retest The Lows
- Deal On Greece: Markets Will Rally For A While
- Markets: Where The Next Hurricane Will Hit
- Will The Eurozone Fail?
- If Greece Leaves The Euro, I Would Buy The Euro Th...
- Greece Should Declare Bankruptcy, Stay In the Euro...
- Greece: The Real Solution
- Q: What do you like globally as far as markets?
- Euro Crisis: What Greece Should Do
- The IMF Has Very Rarely Been Right About Anything
- ▼ July (22)