A couple of items from GS on oil, forecasting
- Brent at 62.50 in 3 months
- at 67.50 in 6 months
Goldman is overall bullish on commodities
- Oil, metals are value plays
- end of 2018 sell offs attributable to unwinding of exuberant sentiment not so much deteriorating fundamentals
- USD falling
- US wages rising
- commodity positioning is light
- China policy support coming, scope for releveraging
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