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COULD OIL PRICES RISE ABOVE $60/BARREL?
Membro Desde May 09, 2017
33 posts
May 25, 2017 at 10:14
Membro Desde May 09, 2017
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.
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 $60/barrel.
May 25, 2017 at 12:13
Membro Desde Mar 21, 2017
13 posts
well fundamentals and technical points to a chance of a break out in price upwards from 40-55 range ... but when its going to break 55$ 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
May 25, 2017 at 13:14
Membro Desde Feb 12, 2016
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).
Membro Desde Dec 11, 2015
1487 posts
May 27, 2017 at 08:20
Membro Desde Dec 11, 2015
1487 posts
A lot of things are possible but not necessarily probable. Such a price rally in this case is both, in my opinion.
Membro Desde Dec 06, 2016
33 posts
May 29, 2017 at 14:15
Membro Desde Dec 06, 2016
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.
Membro Desde Mar 28, 2017
12 posts
Membro Desde Dec 11, 2015
1487 posts
Jun 25, 2017 at 11:58
Membro Desde Dec 11, 2015
1487 posts
Right now it's so bearish that $60 per barrell seems like an impossible dream, if you ask me.
Membro Desde Feb 22, 2011
4862 posts
Jun 27, 2017 at 06:45
Membro Desde Feb 22, 2011
4862 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 could but why it should?
Membro Desde Dec 11, 2015
1487 posts
Jun 27, 2017 at 08:05
Membro Desde Dec 11, 2015
1487 posts
togr posted: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 could but why it should?
That's what I was wondering too. I doubt it will be rallying that much anytime soon.
Membro Desde May 03, 2017
18 posts
Membro Desde Dec 11, 2015
1487 posts
Jun 28, 2017 at 11:50
Membro Desde Dec 11, 2015
1487 posts
TerraTopNova posted:
I think a fall is more likely now. Global economy seems to be weakening
Oil seems bullish at the moment, but I agree with you for the long-term.
forex_trader_29148
Membro Desde Feb 11, 2011
1916 posts
Jun 28, 2017 at 14:52
Membro Desde Feb 11, 2011
1916 posts
i pay 1.20 gallon west tx,as long as us provides oil it will never go to 60
Jul 02, 2017 at 06:26
Membro Desde Jun 21, 2017
2 posts
mlawson71 posted:TerraTopNova posted:
I think a fall is more likely now. Global economy seems to be weakening
Oil seems bullish at the moment, but I agree with you for the long-term.
What do you call a Fall ? Long term potential for significant move is up.... Downside is very Limited....
It will become uneconomical ....
Membro Desde Dec 11, 2015
1487 posts
Jul 12, 2017 at 11:33
(editado Jul 12, 2017 at 11:33)
Membro Desde Dec 11, 2015
1487 posts
It was @TerraTopNova that was referring to a fall.
Apart from that, I call a fall any movement (to the downside, obviously) larger than 20 - 40 pips in the short term. In the long-term obviously the movement will be a lot deeper.
Apart from that, I call a fall any movement (to the downside, obviously) larger than 20 - 40 pips in the short term. In the long-term obviously the movement will be a lot deeper.
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