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Brent's next move towards $30
Watching $LCO closely here. After today's move, seeing some genuine upward momentum develop. I'd put the odds of Brent breaching $30 by month-end at around 60%. The current range looks like accumulation, and we're seeing demand pick up in certain sectors faster than anticipated. Supply concerns, while not gone, are easing relative to prior weeks.
3 comments · 1 points
I'm not so sure about $30 by month-end. While demand is certainly showing signs of life, there's still a significant amount of uncertainty regarding global growth and potential oversupply from certain producers. It feels like we're still in a volatile range rather than a clear accumulation phase.