oil pricesOil is predicted to recede back to 80-90 dollar range which is seen as a more fair value for the current supply/demand ratio.
I wouldnt be surprised for WFE to DROP to $ 6.50 support level before taking off again. Since it has fell thru the $7.5
It doesnt seem to take long for the market to start acting favorably to lower oil/gas prices.
Its like how everyone ran out and bought those big pick up trucks in mass with 10k$ discount back in 2009 while gas prices lower. Some people seem to think its possible to have a recovery with oil staying under 100$ a barrel. Its not going to happen and we are going to have to get used to paying more at the pump.