oil stocks dollar falls

Oil Stocks Will Continue To Rise As Dollar Sinks

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Oil Stocks Will Continue To Rise As Dollar Sinks

Mott Capital Management, Michael Kramer

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Oil prices continue to climb, as WTI is now nearing $66, as we are closing in our prediction for Oil to rise to $75. And with the U.S. Dollar sinking again, the case for increasing Oil prices continues to strengthen.

The chart below shows just how far Oil has come over the past two years, and how there is little to no resistance to standing in its way between now and $75.

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oil

Dollar Index

The dollar index has broken all support around 91 and is now around 89. There is one last line of defense for the dollar index around 88, but based on what the euro and yen charts look like, it seems unlikely to stop its decline at 88.

dollar

Euro

The euro has completely broken out, trading around 1.24 to the dollar and seems to be on its way to 1.30 vs. the dollar.

euro

Yen

While the yen hasn’t broken out, it is nearing a breakout and should it move below 108; the Yen shall strength to around 100 vs. the dollar.

yen

Pound

Even more amazing is the pound has now recouped all of its losses to the dollar after Brexit, and it is likely to continue to strengthen vs. the dollar.

Exxon Mobil

Exxon has broken out and appears ready to continue to climb towards $93.

exxon

Chevron

Chevron shares are nearing all-time highs, and a rise over $135 would be a significant breakout as well.

chevron

ConocoPhillips

ConocoPhillips is breaking out in a break way as well and could be headed towards the mid-70’s.

conocophillps

OCCIDENTAL PETROLEUM

Look at this huge move, and the potential for more to come, maybe all the way to $72.

oxyWatch our premium On-Demand video, in it, we discuss in more detail out the dollar’s decline and the material stocks which could see enormous benefits from a sinking dollar. 

 

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Michael Kramer and the clients of Mott Capital own shares of ACAD, CELG and ALKS

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #oil #dollar #euro #yen #pound #exxon #chevron #conocophillps

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