Subscribe to The Free Market Chronicle and join the 2,679 subscribers getting it for FREE!
[widget id=”wordads_sidebar_widget-41″]
Oil Stocks Will Continue To Rise As Dollar Sinks
[widget id=”text-16″]
Oil pricesย 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.
[widget id=”text-19″]
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.
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.
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.
[widget id=”text-12″]
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.
Chevron
Chevron shares are nearing all-time highs, and aย riseย over $135 would be a significant breakout as well.
ConocoPhillips
ConocoPhillips is breaking out in a break way as well and could be headed towards the mid-70’s.
OCCIDENTAL PETROLEUM
Look at this huge move, and the potential for more to come, maybe all the way to $72.
Watch 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.ย
[widget id=”text-13″]
Mott Capital’s Reading The Markets –ย An In-depth Global Macro Stock Market Commentaryย –ย In Video Format – See How Michael Dissects The Markets
Just $200 Per Year – Get Your Free Trial
Recent Videos:
Why It May Be Time To Get Bullish On Materials As Dollar Plunges
What Everyone Seems To Get Wrong On Netflix
The Long Straddle, Plus Biotech Breakout
Inflation, Tesla Plus So Much More
Free Articles Written By Mike:
Why Bitcoin’s Plunge Hasn’t Killed Nvidia’s Stock
Why Netflix Is Still Cheap Despite 30% Gain In Three Weeks
Why Amazon’s Stock Is Surging 15% Ahead Of Earnings
How Netflix Will Spark The Next Media M&A Wave
Biotech M&A Spree Could Push Sector to New Record Highs
Why Apple’s Suppliers Are Plunging As Mega Tech Thrives
Why A Rising Stock Market Isn’t Risky
Why Chipmaker Lam Research Is Poised For a Rebound
How a Juno Takeover Could Boost Celgene
Why Ford Could Rise By Nearly 30%
Why Morgan Stanley’s Stock Is Poised to Rise by 25%
Apple Poised to Gain 14%, Defying Skeptics
Exxon Mobil May Rise 20% on the Back of Surging Oil
We offer daily market commentaries sent directly to your inbox or follow us on Twitter.
Join our 2,679 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe
-OR-
[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”]
Michael Kramer and the clients of Mott Capital own shares of ACAD, CELG and ALKS
Mott Capital Management, LLCย 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.ย Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.
ยฉ 2017 Mott Capital Management, LLC.ย Use, publication or reproduction in any media prohibited without the permission of the copyright holder.
Tags: #oil #dollar #euro #yen #pound #exxon #chevron #conocophillps