Post by
MP9.s on Aug 30, 2015 4:36pm
$38 WTI / $43 Brent was rock bottom
Oil will still be inelastic for another 5 years. India is about to have it's own Industrial Revolution with capital moving from China as their labor costs are getting are too high. That puts a floor on prices. AND I expect the $USD cash awash Arabs(up to 20 million barrels/day even without Iran) to stop selling oil THIS WEEK completely for 2-3 months and then resume selling slowly at ridiculously high prices. It's the likely outcome IMHO.
Comment by
Johnny881 on Aug 30, 2015 4:49pm
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Comment by
MP9.s on Aug 30, 2015 7:16pm
Banks, investment firms & all that shorted crude will get a margin call either monday 6pm, tuesday 6pm or wednesday 6pm(Eastern time). Watch for the massive rally, it'll be violent.