webbie

Oil: Ready to breakout or bump its head?

FX:USOIL   Crude Oil (WTI)
53 1 1
Either oil             is going to break out of this inverse H&S , and start making some price gains, or it's going to bump its head against it and head back lower (again). I don't have a bias either way, but will keep an eye on it. UWTI             and DWTI             are two ETFs I've used to trade oil             in the past. Of course, there's also USO . Trade 'em well.
ma.sanjuy
2 months ago
Dear, i think Oil, if allowed to be not manipulated....would drop to below $20 levels...

pl consider the following facts:

a) if oil was really in demand, there was no need for OIL PRODUCERS, to cartelise the markets..and talk of decreasing production or freezing production. Oil is surely being fast replaced by Solar power (which is anyways the prime source of all energy).

(b) To evidence what i said above, think of the following: If all the exchanges on which Oil is traded, simply called for 100% margin coupled with PHYSICAL DELIVERY instead of CASH SETTLEMENT, oil would drop immediately to the actual price (which cannot be more than $20 per barrel).

one must think of the above fundamentals before thinking to BUY oil at the current prices. It is simply not sustainable - as it is far away from its fair pricing.

rgds/
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