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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (46462)	7/17/2018 7:28:36 AM
From: Goose94	Read Replies (1) of 203333

Crude Oil: I remain cautious on the energy market for the near term as it’s likely a general stock market correction is underway. The momentum and FAANG stocks are now showing deterioration after leading the stock market for years. The Trump trade war is escalating, which will be the issue that moves investors from bullish to bearish. We expect crude oil to fall below US$70 per barrel shortly. If the trade battle and stock market decline are significant (a 15 to 20 per cent plunge), crude prices could fall below US$60 for WTI in the coming months. Downside for the S&P/TSX Energy Index is below 160 points (it’s now around 210). Hold cash for a great buying opportunity in Q4/18 – maybe late October. Josef Schachter on BNN.ca

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