History repeats and often. Have a look at some of the dips in Oil price and the recoils;
$19 in July 1973 to $51 in Jan 1974
$17 in Feb 1999, to $41 in Feb 2000 a year later.
$144 in July 2008 -> $46 in Dec 2008 to $81 in Dec 2009.
Many are predicting we have bottomed, it may go on.
But when history repeats - per Tony's J Curve theory, with restricted investment and carnage in Shale coming in Q1, history will no doubt repeat...
Oil recoil - J Curve
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