USOIL has been beginning its rapid ascent back to normalcy, with prices at gas pumps shooting up to match the market for crude itself: With already nearly a 5-percent increase before the mid-point of Friday's trading day, closing over 40 per barrel is fully within the realm of possibility. There have been no resistance marks in the candles today-- this basically signals the GO! shotgun announcing for the bulls to come out and have their food...and so...It is fairly easy to see where this is going, I suspect.
Oil related stocks, ranging from the gas giants to the likes of personal pet Halliburton, are exploding with such promising ROIs that those who slept on the crude industry, declaring it dead, now have the most frozen "Cold takes" in investing. It is not just that they were wrong, but that they were no where close.
The message is hardly VIVA la CRUDE, however, with industries as entrenched in the global economy as something like fossil fuels-- It will take much more than a nasty pandemic to derail that. "BET," as some of my amigos would say. In other words, this is not really something we doubt. It was inevitable to those with a proper view into the semi-long term future of all energy related matters--It is simply knowing that multi-trillion dollar industries do not go belly up, even if
USOIL did temporarily become worth less than, well, water. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.