Your good at this stuff its alot to take in. Nice chart annotations. Thanks for the charts
I see wut ur saying now, but not convinced yet. I prob will be by the time its too late, lolol.
Questions
1. How do we know 4 is done upward and not going to r1?
2. How do we know 4 is not actually (1), where it dips to $54 range for (2), before going up to (3) at r1 high 60's
Everybody sees different things for sure
Things to consider is as soon as price increases companies are waiting to unload store oil to the market causing oil to go rt back down. Alot of wells are also completed and ready to be brought on to production.
I work in oil and gas industry so i want it higher for sure, but even i dont see it all unicorns and rainbows from here. I have been hearing from many of our customers that they are already bringing back rigs/ or are going to if oil hits set price ($65, $70, $75).
With this info i finding it harder for it to ever be high price again.
Thoughts on this info? Sorry for long message just thinking out loud
