The last time I wrote here about crude, it was to explain why oil had dropped that week on what looked, on the surface, like bullish news. In that piece, I warned that the “logical” trade following news is not always the correct one. Depending on market conditions going into the release of news or data, and the nature of the news or numbers, fading an initial reaction in the obvious direction is very often a better play.
But not always. Sometimes, the news is potentially so impactful that a move in the obvious direction is sustainable,…Is It Time to Turn Bullish on Oil?
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