The FRED Report

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The Fred Report - Monthly November 2019

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USO may have made a seasonal bottom in October, and if so it could go sideways, or rally into November. Oil could rally on this weekly stochastics recycle. We maintain our $72/Bbl target on oil, the equivalent price on USO is around 15 to 16. This will most likely happen this winter, if oil makes higher lows now.



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