Fundamentalists Talk Down Oil Prices, As Technical Analysts See A Sustained Move

A few  weeks ago everyone was talking about the death of oil with one infamous pundit possibly referring to his own death. How much sentiment for oil prices has changed in a few weeks… With oil moving to $40 per barrel and holding – much of the move being attributed to technical factors – has an important mid-term bottom put in? Were those sometimes loud predictions that touted $30 and even $20 per barrel oil wrong? Or is a production freeze agreed to by OPEC and Russia doomed to fail? Those fundamentalists currently deriding the jump in oil prices as a…