I have, for a few weeks now, been saying that I expected crude to move lower based on questions about demand, particularly from the US and China, the world’s two largest oil consumers. That has been the case, and despite a bounce after breaking below $70, there could still be a little more room to the downside on that trade. However, oil will turn at some point, so I have been taking some of my profit from the short trades and looking around for oil related stocks to buy. However, because I am still not convinced that a real recovery in crude…
My Number One Pick to Prepare for a Bounce in Crude
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