David_Tariy

Crude oil into very low price.!

Short
TVC:USOIL   CFDs on WTI Crude Oil
The dump of the crude is faster than I excpected and the price is below the 12$. The cost of the oil production per barrel for Irak, Iran and Saudi Arabia is 10$ and below wich is the cheapest in the world (Saudi 8.90$). With all the economy troubles what do you think that this dump affect in the world?.
The truth is that we dont see these price since the 90s and it had takes a good 10 years of consolidation before the price break higher in the 2000s.
Anyway the three drives to the downside movemment is complete and we can have a good consolidation in these areas or a manipulative spike, the only thing that i know is that this and lower prices is a good entry for a very very long term. Whats your opinion? Let me know in the comments

Comments

War is the only thing that can save these oil prices now. Don't be surprised to see one start soon
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out