Your going to need to learn how to adapt/evolve as the environment surrounding crude oil changes. Most pit traders and large funds are on the sidelines waiting for crude oil to hit $32 a barrel, prior to calling a bottom on the commodity.
In fact, the 2016 WTI oil forecast just came out on CNBC moments ago.
Morgan Stanley has a 2016 price target of $47.50. Bank of America has a $45 price target. Moody's has a $40 price target and Barclays has a $37 price target on WTI crude.
So... does it really matter if one gets into this commodity at the absolute bottom? I'm content with my $1.59 core average in UWTI and those that can ride this up even into the mid $30 a barrel level, will be extremely happy that they decided to purchase shares at current oversold and unsustainable levels.
Just stop and use common sense and rationale for a moment. Do you personally believe that during the peak driving season in summer, that you will be paying $1.80 a gallon for regular gasoline?
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