Time to buy Crude Oil?

I was looking at the crude oil long term chart today. Looks interesting. At 1980's to 1990's levels, and 1950's levels if adjusted for inflation. I think it might be a good buy right now for a long term trade. Chart looks nice technically? What about fundamentals? Was thinking about buying the ETF for a long term investment, maybe for over 1 year and that way it will also get long term capital gains tax treatment, right? Anybody here know about stocks and futures? Here is the chart:

<a href='https://www.macrotrends.net/1369/crude-oil-price-history-chart'>Crude Oil Prices - 70 Year Historical Chart</a>

Inflation adjusted:



Regular:

 

Maybe not today maybe not tomorrow but soon.

I stuck my little toe in with COP. They at least can turn a profit with oil below $40.

But really this is about "this can't last". We shall see. I will venture some funds.

 

COP seems interesting. Dividend paying is good. Maybe I'll try some. Really like the crude oil futures chart though. I feel more comfortable with a wider product like an index or a commodity rather than an individual company which who knows what could happen with. But the ETFs I found so far don't seem to follow the crude oil chart as well as I would like.

 

I would have though the production cut agreement would have sent oil to the moon (this is relative).. but no dice.

 

Yes. One would think. So I bought USO today, for that reason. Gonna boomerang at some point.

 

Good buy. Bought it yesterday, all in. Went down 5 or 6% today, but can't time the market that well. In it for the long term, 1 year plus.

Yes, I was also surprised. Went up a bit after the announcement, but then flattened out, which is when I got in. Was surprised it went down further today.

 

Careful with that. USO is garbage. People buy it thinking it is tied directly to the price of crude. The fund uses your money to invest in crude futures that keep rolling over each month. This has been discussed a lot recently in the financial press. Good luck.

 

Agree. Today is April 25. Posted that on the 14th. I think I bailed on that buy the next day and posted an article or two on it in the investor thread.

My COP and other energy stocks that I caught near the bottom are doing fine.

 

uso has been a poor performer. i bought at 10 dollars / a barrel USO was trading around 20's (after reverse split) close to when oil hit negative it didnt bounce back like it should have. i made a couple hundred on it but for the price of the stock its not a good buy

 

I dumped USO right away. Read my other posts. My other energy plays were (sold) and are (holding) doing just fine (got hammered Thursday)