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Goldman's got skin in the oil game.

dmedin

By dmedin,
in Commodities

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bigstones New Contributor

bigstones

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There seems to be a correction in Brent oil every 10-14 days since the April lows, occasionally prefaced with a smaller drop and bounce. Is this just another correction before next leg higher or are we gonna see a narrower range traded here for a while til the second wave of Rona sorts herself out?

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dmedin
dmedin

Ay me, Samantha 🤔 Goldman expects Brent prices to reach $35 per barrel in the short term, compared with around $43 hit on Monday. https://uk.reuters.com/article/uk-global-oil-research-goldm

Caseynotes
Caseynotes

which oil? are you calling Monte a liar? 👀   US Crude;

bigstones
bigstones

There seems to be a correction in Brent oil every 10-14 days since the April lows, occasionally prefaced with a smaller drop and bounce. Is this just another correction before next leg higher or are w

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Caseynotes Honoured Contributor

Caseynotes

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11 minutes ago, dmedin said:

A big selling candle, almost immediately followed by a big buying candle.

Make sense of that if you will.

yeah sure. In a one way auction price can only move in one direction (up),

BUT in a two way auction price can move both up AND down. 

For the last 12 months you have been participating in a TWO way auction.

Sorry to be the one to break the news to you.

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