Oil has been mostly out of favour since 2014 and, after recovering from its lows in April, crude has been mostly trading in a range.
But oil is in a cyclical bull market and could be on the cusp of a multi-year uptrend as the U.S. dollar prepares to reverse the uptrend it’s had going since 2011.
This according to John Johnston, Chief Strategist at Davis Rea Investment Counsel. He says while it’s too early to make a “great contrarian call” on oil, that time is coming.
Find out why and see some great long-term oil and U.S. dollar charts.
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