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I agree. I couldn't make a lot of sense of it either. POO over...

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norto89

455 Posts.

137

03/09/20

09:09

Post #: 47044009
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Originally posted by Shorterskillme: ↑

Well the POO certainly didnt do anything close to what i was expecting overnight and it took me a while to find the "reason" for it;

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-09-01/oil-rises-to-near-43-on-shrinking-stockpiles-economic-cheer

If i read that article before checking the POO, I'd have read most of what was written as a positive for the oil price not a negative.
Bit hard to understand the drop. It was the incorrect reaction by the market imo.
Makes about as much sense as the url bloomberg gave to this article (url=oil rises, article title=oil drops).

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I agree. I couldn't make a lot of sense of it either. POO over the short term is driven by temperamental speculators, so i wouldn't read into it. The fundamental data that came out yesterday was a solid +.

SXY Price at posting: 31.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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