Would you have any reason to feel bullish if you had nothing but this redacted chart? The recent pop only gets us back on the road to the true bottom of a balanced market.
There will not magically be more crude storage in 3 weeks when the June contract expires, nor will the demand have risen enough to have called the bottom. Smart money is shorting the hell out of this. There may be money to be made while the can is being kicked down the road, just make sure the boot doesn't come down on ya. I'll take my chances with cheap USO puts.
There will not magically be more crude storage in 3 weeks when the June contract expires, nor will the demand have risen enough to have called the bottom. Smart money is shorting the hell out of this. There may be money to be made while the can is being kicked down the road, just make sure the boot doesn't come down on ya. I'll take my chances with cheap USO puts.