To use chat, please login.
Back to contacts
TanEric
May 25 2017 at 06:28
6 posts
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?

AmeliaChong
May 25 2017 at 10:14
33 posts
Crude Oil prices trades on the front foot in Asia on expectations the major oil producers will extend the output cut deal.

The question is whether the major producers will extend the deal by 6-months, 9-months or 12-months. The OPEC monitoring committee has proposed nine-month cut extension. a 9-month extension may have been priced-in by the markets.

A probability of a 12-month extension is low, although that could push oil prices above $60/barrel.

rainfall
May 25 2017 at 12:13
13 posts
well fundamentals and technical points to a chance of a break out in price upwards from 40-55 range ... but when its going to break 55$ a barrel?, if its going to break out? or if opec fails and it all will come crashing down its a two way street at this time

Baldo (BaldoN)
May 25 2017 at 13:14
522 posts
TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?


This is market and everything is possible, but I do not believe this will happen in short even mid term as per current fundamental situation (WTI).

rainfall
May 25 2017 at 14:12
13 posts
they said today that they have their heart set on 9 month cut extension but they are failing to cut the production, lol and I hope they keep failing because here in California fuel is still 3$ a gallon

Tiffany (TiffanyK)
May 25 2017 at 14:51
427 posts
In my opinion – definitely! Should be very patient, though. If you want to reach a good profit, you should set a long term positions and be very patient.

Accept the loss as experience
mlawson71
May 27 2017 at 08:20
1487 posts
A lot of things are possible but not necessarily probable. Such a price rally in this case is both, in my opinion.

alfredgervais16
May 29 2017 at 14:15
33 posts
TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?


It can possibly happen. As we all say, only the market can tell 😁. But with the recent news (source: https://www.funds-money.com/light-crude-slipped/), I can sense it could take quite some time to happen due to the fact that there is slow gasoline stock in the US and as well as the anticipation of the OPEC meeting.

Telltale20
Jun 01 2017 at 14:54
12 posts
If you wait long enough then it will probably reach $60 but do you have the time?

rainfall
Jun 02 2017 at 09:10
13 posts
Telltale20 posted:
If you wait long enough then it will probably reach $60 but do you have the time?
and the capital to handle the draw down lol

Please login to comment.