Oil prices are at a major inflection point. They either turn higher or break multi-year support levels and cause more pain to oil producers.
Nearly 2 months ago, we put out a note describing how we speculated on the upside of crude oil prices. We then subsequently implored if prices had indeed bottomed, and we made a case for both sides of the trade. Regular readers that follow our trades that we make public, will know that from the period spanning 1/27 till today, we have had 5 trades on oil. The results of these trades can be found in our most recent commentary dated 3/10.
In this note, we will share with readers a few takeaways we have gained, as well as what we expect going forward.