Monday June 3 2024
July WTIC dropped about $3 oe 3.79%. What one really wants is a wash out in any stock or commodity, a final give up of participants when many say, just let me oout.
This is interesting given the WSJ headline today that Saudi and Russia are cutting production to ensure price, funny the market did not agree. I was thinking the morning we would need a break down or up to resolve the 75-80 trading range, well now we are getting there. Next support looks to be $70 which is afte all ony another four bucks.
Halliburton HAL next stop 33 RIG and PTEN are down but not as much as I might have expected.
Remember what you want as an i nvestor is a washout, a panic low is even better, so patience.
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