Loading...
Loading...
Sarhan Capital CEO Adam Sarhan discussed crude oil prices on the show.
Sarhan said the firm covered its short positions approximately two weeks ago and was no longer short oil.
"I feel that crude oil right now, is struggling really hard to find this bottom but it's [been] trading for the past few months right near $50," Sarhan said.
"It's forming a bullish double bottom pattern," however, it was still range-bound, and Sarhan cautioned that prices could still fall if the recent lows are taken-out. If so, the mid-$30's could be tested.
To hear more from Adam Sarhan, listen to the show here:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in