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Online Share Trading

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Oil

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Not applicable
Correcting quite sharply, any guesses where it will stop
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17 REPLIES 17
louisg
Super Contributor
Have no idea, but hopefully to $80-90$. The oil price is the one thing that will immediately take pressure off the world inflationary pressures. It can sill go back above $135. Wait and see.
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Zirk
Frequent Contributor
Dr Roffey suggested around $120 recently
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Not applicable
I think $120 is the minimum the price will go to, some peoples trash is others gold, i actually want the price to climb higher
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unknown
Contributor
the bones say $148
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louisg
Super Contributor
Who do you think is more reliable, the good doctor or Mr Bones?
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john_1
Super Contributor
Mr Bones.
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Not applicable
who is bones?
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john_1
Super Contributor
the dart I use to pick stocks!
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m9o
Contributor
$120..Big support there. from there should move up to test resistance at $135.But with U.S rate decision, dollar will strenghten and oil may just tumble.
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kingsol
Frequent Contributor
well interesting enuf , lets see the Dr. vs THE BONES who will it be ... place your bets!!!!
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Pam_1
Regular Contributor
There are 2 known facts. Scenario 1: World (spot) demand now exceeding world supply, I agree. Scenario 2: The volume of oil futures traded increased 10-fold in 3 months; there is no chance in hell that China/India increased cars/consumption 10-fold, so presently every storage tank and oil tanker on the ocean is full, for delivery in September or whenever. The refineries can only process so much. Everybody owns oil futures and has to sell some or other time to a processing facility. Soros suggested its a bubble, I think he may be right and in September we may see oil at $80/bbl and Sasol way down. OMO.
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louisg
Super Contributor
Pam, I hope you are right. Inflation should then come down and with it interest rates. There just may be presents this Christmas after all, IF that scenario plays out.
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john_1
Super Contributor
Hey LG hows this for a plan. China floats its currency alla Asian crisis style it totally wipes out commodity prices and the dollar rallies, and all the while GeorgeW and his mates are going short oil futures
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asylum
Super Contributor
stop it John youre scarring me!
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john_1
Super Contributor
be afraid be very afraid.
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ms
Contributor
so am i wrong then on sasol looking like it has broken the downtrend?
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Not applicable
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