Anyone looking at crude oil prices?

Dumped half of my liquidity into the USO fund today. You could literally buy 10 barrels of oil for the price of a chipotle bowl right now. It's insane. What are your guys thoughts?

Once the corona-crisis is over and business really gets going again, the price is bound to up. Dont think OPEC will let these ultra low prices stay for very long

Yeah, I think Oil is definitely going to go up (maybe not soon but definitely in the future). Only way for oil to stay down low forever is if civilization pretty much is on the verge of collapse I think or once EVs start to have a huge market share. You should definitely think about investing long term which is where you will make money. Short term investing is risky but does have its rewards if you have skill and luck.

I'm mostly a crypto trader (during spare time)but sometimes looking at other markets
I've indeed bought some crude oil units near the bottom, like other said this is potentially a temporary drop tighly connected with the covid restrictions and the very high price for stocking unsold barrels. As soon restriictionsare gradually removed we will probably see a rise in price, those are the fundamentals. May futures gone crazy with negative values during a sort of spiralingbearish bid auction, I suggest to stay away from them and stick only on derivatives.
I do technical analysis usingEWtheoryand advanced volatility probability, I can share a couple of charts if you like

My thoughts that you did the right thing but the price of oil is not constant. Anything can drop to a low price in a second!

Good buy, its the kind of buy that you know will rise and is always a good investment. Let us know how it goes and how big of a profit you turned.

This kindof thing also just happens with oil sometimes regardless of corona. itll be back up and insane again
but good on you man, good luck

I was looking and bought crude oil at the start of covid

I am
Investing in oil is always a profitable idea if you have the capital

20-04-2020, 10:30 PM

ratdrew Wrote: Dumped half of my liquidity into the USO fund today. You could literally buy 10 barrels of oil for the price of a chipotle bowl right now. It's insane. What are your guys thoughts?

I don't recommend it although you would make a profit anyway with these prices.