Could oil keep dropping or is it oversold for now?

MNSL answered one year ago …

I do not think it is an oversold situation. This is the time to avoid commodity market completely. Now stocks are cheaper than commodities. Still commodities and other assets are in bubble stage.

Oil investors who bought Airlines stocks are now benefiting short-term gains. Some companies, sectors and neglected sectors will benefit most due to change of commodity trend and currency trend in next 18 months.

In fact, demand is decreasing rapidly for some commodities now. They are not willing pay higher prices now. Turnover is coming down rapidly for some commodities now. People are using fuel carefully now. It is a good trend.

Some companies have reduced consumption of commodities by more than 50%. Some countries including Japan had takes step to reduce grain import and increase rice production. They are going to use rice to make flour and to feed animals.