Crude oil is set to continue surging, making it a buy on the dips.
We have recently been looking to buy crude oil, in line with the recent bullish and upward momentum in this market. The price of crude oil has clearly bottomed out down near the 43 key support level, and there is the potential for prices to head even higher in the coming days and weeks.
There is a key near-term support level down near 49.30, so watch for dips or pullbacks back toward that level or even slightly above to be a buyer.
This article is commentary by an independent contributor.