Crude Oil Correction as a Buying Opportunity in Energy

about 1 month ago

Mark Newton

"I sense that crude likely gets down to probably $58, $59 from 63. And thereafter, I think we probably are going to bottom in crude and start to push higher... I still think we have one big flush to the downside in energy. And I probably want to use that to buy."

Mark Newton provides an actionable trade call in the energy space, expecting crude oil to decline from current levels (around $63) to the vicinity of $58-$59. He anticipates a bottoming process after this decline and suggests using such a pullback to initiate long energy positions.

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