Oil Prices

[yewkim]

cityfarmer

I am referring purely to oil only, not any stock or counter that require due diligent as in value investing.

Oil is heading higher, currently 52$, but i believe with each day pass, the supply is building up. Next week, we will hear again US stockpile at record high, then it may retrace down a little only to soar even higher later.

Just as I see oil the way it is tonight. It drop to 49.83 and then head back higher.

Just as though I have affinity with crude oil, it was 50.5 when i post the early post. Now it is back up to 52. prove market price action cannot lie. The law of supply and demand can never lie. Counting rig shut down and barrels are lagging indicator.

So profit taking over, time for oil to get back to work it way up. So what can we say of supply n demand??? I would not be surprise if oil end up positive by end of today session.

And very soon, we will be back to 53$ and hopefully 55$ taken for good.