Crude passes USD $47 tonight, just over a year ago it was down around $20, many (most) analysts are predicting it will continue to climb to (at least) USD $65 in 2021, but it should surpass that. The slow but steady movement has all the hallmarks of being closely controlled by the global oil cabal, to have it move up, but only slowly, for which they have their own reasons. It means that in a years time SXY will be 45 cents or more, but it's going to be a slow grind. SXY has always had a heap algorithms corrupting it up and down over the years, and is well overdue for a share consolidation, which may deter their activity somewhat.
It will be global news when oil passes back above USD $50.
Like FMG and Origin Woodside and some other large caps, SXY may also want to buy into the coming Hydrogen boom at some stage, in some way.
IF oil holds $47 tonight, I'd expect to see SXY at least touch 36c in the next couple of days, let's see.
Gw
SXY Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
