- See more at: http://blogtimenow.com/blogging/automatically-redirect-blogger-blog-another-blog-website/#sthash.CpFtWfic.dpuf Traders digest: OIL

Wednesday, 15 January 2014


Oil ETF attracts big inflows as price declines 9:31 AM
  • Dip buyers are evident in oil as the U.S. Oil Fund (USO) attracts net inflows of more than $500M in the past two weeks - doubling AUM in the face of a slumping crude price.
  • WTI crude declined from over $100 per barrel at the end of 2013 (and over $110 around Labor Day) to about $91 this week - it's since bounced to $92.83 currently.
  • Saying supply growth ex-North America will disappoint, UBS is a bull on crude, upping its 2014 price targets for both Brent and WTI by $5 per barrel to $105 and $98, respectively.

OIL seems to be on a short-term bottom after failing to break lows on a second attempt. Personally still skeptical about oil bull ran, but being an intra-day trader, I can as well trade both sides.

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