by Greg Guenthner
The worst oil bear market in history appears to be coming to a chaotic end…
Oil broke above $42 to new 2016 highs yesterday. That marked the third straight day of a rally that began around $37.
As of yesterday afternoon, oil’s back above its 200-day moving average. And it’s lifting the rest of the market higher too. The Dow was up about 165 points yesterday. Futures are pointing toward a higher open this morning.
So… is it time to place a few shekels on an oil play? You’re about to find out.
It’s been a long time since oil’s had this much pep in its step.