A trader asked me — oil has been crashing down, may i know what’s your outlook? My reply : Oil price is driven by many factors (I listed things I consider that move it positively or negatively in my book). Anything can happen now since EU is back on the radar, then US earnings which are forecasted to rise mildly. Its going to be see saw movement but I’ve got my eye on the support for Oil – if it breaches $ 100 could be interesting. Best bet control Risk with your position size.
Here’s an enlightening article :
http://www.bloomberg.com/news/2012-04-11/oil-rises-from-eight-week-low-as-ecb-signals-spanish-aid.html
My book “High Heeled Traders” lists factors and their effects on oil stocks. Get it here.
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