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Biden is GOOD for Oil

In a previous post I discussed how Copper was foreshadowing an improving economy and likely a continuation of the stock market rally.  The same can be said of serval key economic indicators:

  • Housing recovered in June
  • Copper recovered in July
  • 10 Year Treasury Yield bottomed in August
  • Oil broke out in October

Speaking of Oil, it should do well under Mr. Biden, especially if he restricts production by banning Fracking on federal lands.

Oil is already up by more than 20% since the election and I believe it’s headed to at least $53 in the not too distant future.

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