Topic: Where next for Crude?

I have chosen to sit on the fence of late as I am struggling to come to terms with Crudes recent Bullish stance concidering demand issues and , I feel like all the gains in stocks are based on false hope and it can only be a matter of time before reality kicks back in, does anyone else have any views?

I follow this daily blog which is really useful 
http://www.prices-oil.org

CT

Re: Where next for Crude?

Hi CT,

My view is that the USD currency exchange rates are falling off somewhat against other currencies and as crude is priced in USD, the logical assumption would be that crude prices are going higher again. I read today that $75 to $80 USD per barrel is a strong possibility very soon.

Go see here: http://newsvote.bbc.co.uk/1/shared/fds/ … efault.stm

Re: Where next for Crude?

Thanks for your response and view Gralsburg, do you trade Oil yourself?, if so I was wondering which broker you use and how you find them?

CT

Re: Where next for Crude?

Hi CT,

Sorry for not getting back ealrier, just making a killing on the oil futures market this week.

As for my broker, actually, I use the PLUS500 trading platform as advertised on this LiveoilPrices website. The system is so slick, extremley easy to use and I was up and trading oil futures in less than five minutes...!!!

For anyone looking to trade oil futures, you should give this platform a try, and by the way, you can try it for free as a demo account. When you want to start trading, you can do so with just £50. It really is the business...

Anyway CT, what broker do you use for oil trading?

Last edited by Gralsburg (11-06-2009 14:14:38)

Re: Where next for Crude?

I see $72 being the near term top. I am in the camp that believes the SP 500 and markets in general are completing the right shoulder of a typical head and shoulders. Lot's of downside to work out and crude will follow. $63.50 is my next target to start playing the long side again.

http://crudeoiltrader.blogspot.com

Re: Where next for Crude?

Thanks for your input Crude Oil Trader, it's and interesting view and well noted.

You may want to see this short video from Bloomberg on the subject of oil prices for 2009 and also oil price predictions for 2010: http://www.youtube.com/watch?v=5dwyJjNx … r_embedded