sp'60min
USO, daily2
Summary
Little to add.
The gains in Oil are still within a broader down trend. Even if Oil can claw to the $40 threshold within the next few weeks, it will do nothing to suggest the collapse wave from summer 2014 is over.
Indeed, there is still very little industry capitulation in the oil sector.. nor for that matter, in precious metals/mining.
For the drivers out there.. and almost everyone... low oil/energy prices remain one of the distinct good things across this year.
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back at the close