Friday, October 17, 2014

Is An Oil Rally Just Around the Corner?

Oil has suffered an epic decline.
 
Since peaking above $107 per barrel at the end of June, the price of West Texas Intermediate (WTI) crude oil recently collapsed to less than $82. That's a 23% decline in less than three months. Oil is now trading at its lowest price in two years. And a lot of folks think it's going to fall even further.
 
I disagree. It's likely the bottom is almost in for oil prices. And the sector looks like it's setting up for a short-term rally.
 
Let me explain...
 
As regular Growth Stock Wire readers know, assets like oil typically trade opposite of the U.S. dollar. So oil rallies when the dollar falls... And oil falls when the dollar rallies. (more)

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