zoltor

WTI - Levels of support/resistance/trend

FX:USOIL   Crude Oil (WTI)
101 2 3
Hot week for WTI. What's in store?

Major resistance around 51, then 61
Major support at 42.75, then 39.00
Dear, my view points as follows:

(a) if oil was really in demand, there was no need for OIL PRODUCERS, to cartelise the markets..There was no need of the heads of Various Govt to make statements ... it simply reflects the hollowness of the markets. 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/
Reply
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/
Reply
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