Oil at $5 - $10 a barrel ?

Why drain the dams and lakes? They're already polluted enough that they could probably power any internal combustion engine.

 

He's looking for a MAJOR rally in the U.S. Dollar. If that in fact happens, the commodities markets and OIL gets crushed.

You do realize that crude moves inversely to the dollar right? And that crude oil inventories here in the U.S. are at the highest level since 1991.

There is a 24 day forward supply.
Highest since Saddam invaded Kuwait.

 

100% right.

 

the flip side of the coin

some other "chap" in that Prechter article

called for OIL to hit $200 in the next 5 yrs

no that's what I call Green Shoots !

www.seatradeasia-online.com/files/green-ship.jpg

 

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Yes he has done some skilled stuff with 5 waves i think; always double check my math, i told her and anybody. Some else noted ; ''sitting by the pond waiting for the big waves.LOL''.

Modern Trader Magazine[APRIL, early magazine LOL] has some-long term good oil charts with a double bottom of about $10.. $10/+. Actually i heard an industry official fearing ''$10 oil this year [2016]'' But it would have to close below $20 to do that;[ $27+/ to $83/+] Modern Trader Magazine estimates for 2016- seem most likely. NOT a prediction ; wisdom is profitable to direct.

 

Murray, you're such a double talker

I was thinking of posting a new thread as I'd just had a look at the CO charts — 'will crude break $10'
then discovered this old thread - thanks Murray and that I'd posted in it, so yes,
if the $21 level - fibo # - won't hold the price, then DOWN

starts in July ? ? ?

 

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Mr Wallace
I dont call it double talk- its both [ LOL] sides of the trade comment.
NOT to bragg but i also noted $10+/; so i think you know i was not predicting exactly$10.It could go to 1850/+ level, maybe not $ 21; hit $40, in Drakes field area, 1850.

 

Good article;
production prices..... Shell pulled out of Arctic partly dry hole., too much gov regulation. Maybe go in again with a change of gov??

 

Yearly chart bars show a measured move to about $10

 

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Well the gasoline sellers have been dropping bids like its headed that way.LOL I thought it would hit $40, good thing i dont make predictions,it may have gotten a bit warm for the polar bears now. NOT a prediction; but that is wisdom