GUSH: An opportunity to play Oil ahead of the G20 & OPEC meetings
With the G20 ongoing, and the OPEC meetings scheduled for July 1st and 2nd, we have some nice catalysts that could push oil producers and refiners higher. Crude oil has already seen a bit of a rebound, but the oil producers and refiners still lag. GUSH is a nice aggressive way to play the oil producers and refiners. GUSH is a leveraged ETF I've mentioned before in this article. GUSH is up about 14% since I mentioned it 26 days ago (not bad). Now I'm calling on GUSH to further extend gains as it is lagging the oil markets, seeing increased volume, and could see a nice lift from the OPEC meetings if we see production/supply further restricted. Check out some charts below showing possible support levels, and the increase in volume.
Possible resistance around $6
As always, God bless and may the odds be ever in your favor...
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