My friend, if I could tell you the answer to that with any certainty I wouldn't have to spend 12 or more hours a day at a job that takes me away from trading and spending time with my family. My guess is we remain range bound for the next two weeks and then get a break up or down which will depend on OPEC agreement or not. Then move up after with or without OPEC agreement. Long term oil price is very bullish. In my opinion. But just for clarity most of my understanding of trading Uwti and oil has come from the patience and kindness of more skilled traders. Just follow this board a while and you'll see who is more consistently correct and who isn't. Good luck to you.
Options expiry today on the Dec contract.Just noticed a big covering spike today.Might be a wild ride into contract close next Monday. I think this week still closes positive. Shorting again by next Tues perhaps.
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