One of the worst-hit sectors this year, energy, is currently seeing some positive gains. Analysts predict that oil is going to reach new highs next year. Boom Bust talks to Michele Schneider of MarketGauge.com to find out.
“Well, I think it’s very possible. Oil went into a bullish phase on the charts, which was the first time it’s been in one since January. So, it’s definitely late to the party,” says Schneider.
She adds, that “What we see in the charts sometimes is our crystal ball before we know what’s going to happen with the news. And there’s always wildcards when it comes to the oil market.”