17 Oct 2017

Dear Members,

If the idea that Oil prices can rise does not convince you then you ought to read this article The Path For Oil  Peoples thoughts are often driven by popular views often from the past like the Oil crisis of 2015.

But that just matches what I have been saying since commodities bottomed in 2016. While you cannot be right about everything, every year you must be right about something in my business. For me that was commodities and metal stocks. However within that Oil prices have been quiet at best even as there are reasons that they should eventually go higher. Given that we are at the start of a dollar rally Oil prices might stay under pressure for technical reasons and Crude MCX major support is at 2800 if it dips. But next year is setting up to be a bullish year for Oil and new highs that cannot be ruled out. Crude is one of the commodities we actively update in our daily publication ''IC Mornings''. Here is a chart