Oil falling 33% further makes it interesting

I don’t think I’ve seen the low in Oil that would encourage me to take a new long position.

I’m expecting a double dip to $64, then watching for support around $55.

Failing to hold that level opens up probabilities to the $46-$45 region.

Such a decline would mean expanding margins for industrial users and lower equity prices for oil and gas companies.

Some of those price conversions appear in the linked post from early September 2024.

pondering ‘what if’ lower oil prices

October 29, 2024

rob@karriasset.com.au