My current view with Crude Oil

o0oo00o
o0oo00o
edited August 12 in Commodities
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Looking at oil, I believe that we could see oil come down to $45 per barrel. Of course, this is my view over the next few months.
What do you guys think? I'd like to hear your opinion.
Post edited by JoshWinter on
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Comments

  • JoshWinter
    JoshWinter
    Posts: 442

    Nice one! I agree oil looks bearish here and if the #indexes stay weak than that may also help drag oil back down to the $45 level. The powers that be like to keep oil in the $40-$50 range for now. Oil is at daily support and attempting to bounce see if new sellers come in to short or buyers step in to push price back up the $50's.

    34.png 86.9K
    Always a Student. B)
  • o0oo00o
    o0oo00o
    Posts: 11
    One thing I will say is that crude seems to be at a really good price right now. $50 is at a price where oil companies can make money and consumers are okay with paying oil related products for $50 a barrel
  • JoshWinter
    JoshWinter
    Posts: 442

    Yeah agreed that is true. May be a while before we break out of the zone.

    Always a Student. B)
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