RE:Ignore all posts but this oneblackace wrote: Oil is about to move back to $60/barrel. The two-year chart doesn't lie and it's mirroring itself. Take a look at dailyfx WTI and just look at the symetry, it's actually comical. We are now on the upswing and NOTHING is going to stop it. API, EIA, or Saudi Arabia will have ZERO impact on this movement. Oil has always been manipulated in both up/down directions and now it's being manipulated up. Either get on board (go long) or cover your shorts because the multi-year move is about to unfold and either you will make money or you will get squeezed to death. $150 dollar oil killed demand, $26 dollar oil killed supply, and now we are heading back to the intrinsic middle-ground value-$60/barrel by October 15th. We will then drop back to the low 40's and then sharply return to the $80's by next summer.
BTE will be back to $10 by October 15th and by next summer it will be $25-30. Mark my words!
I'm with this guy.