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Joe Mac’s Market Viewpoint: Contrarian Crude Call

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Ever since crude oil prices bottomed early last year, the trend has been undeniably up, but clearly not up in a straight line. There have been several steep corrections along the way. Oil prices fell by over 10% from mid-December to late March and oil-related equities did even worse: a double-digit dip occurred as traders panicked over record high U.S. crude inventories. Nonetheless, each time crude has dipped more than 10% over the past year, it has proven to be a buying opportunity for ...

 

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