Is this the bottom? – Commodity Research Group

February 3, 2016 by Jim Colburn Leave a Comment

Yes, crude was up sharply today:

And many point to a weakened dollar as to one reason why:

(Price charts, by the way, are from Barchart.com (http://www.barchart.com/commodityfutures/All)…)

But this chart of crude oil stocks suggests an unsustainable rally:

And I just can’t find the words for this one:

The last two charts are from This Week in Petroleum (http://www.eia.gov/petroleum/weekly/)…

So is this the bottom? From the 20 usual answers from the Magic 8 ball (from Wikipedia):

I’m going with number 16. Don’t count on it!

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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