HomeMarketsU.S. Economy & JobsNot Bearish On Oil, But If You Want To Be A Bull, Now's Not The Time To Go Long

Not Bearish On Oil, But If You Want To Be A Bull, Now's Not The Time To Go Long

I'm a little concerned that the stock market, in my opinion, looks a little bit top heavy and the dollar's (/DX) in a bit of a corrective rally mode and those two things should keep the oil rally around, notes Carley Garner. She talks about how she is not bearish on oil, but if you want to be a bull, this probably isn't the place to start going long. She discusses how crude oil (/CL) continues to rally after record API petroleum draw. She goes over how OPEC output falls to lowest level since 2020. She then outlines what a strong labor market means for oil demand. Additionally, she mentions the outlook for copper and what the Fitch downgrade of U.S. credit means for gold (/GC). Tune in to find out more about the stock market today.

Futures

02 Aug 2023

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