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Wednesday, 02/07/2018 12:53:02 PM

Wednesday, February 07, 2018 12:53:02 PM

Post# of 312
Oil Correcting, Here Is The Target

Oil took a beating today, falling 3% after inventory data showed a surprise build. In all fairness, oil was extremely overbought and due for a correction. Let's not forget, the U.S. keeps pumping more and more oil as the price has gone up and the global output remains higher even with OPEC's attempt to curb supply. Ultimately, expect a correction in oil to the $59 level of support. Note the commodity chart below.





Gareth Soloway
InTheMoneyStocks