Is crude oil headed for $100 a barrel?
BY: INO - June 12th, 2009 - 6:13 AM -
+213 Today we’re going to be looking at the crude oil (NYMEX_CL) market. This market has rapidly become the world currency of choice for many countries. What do I mean by that? With the dollar going down in value, it automatically pushes the value of crude oil higher.
I analyze the July electronic contract for crude oil (NYMEX_CLN09.E) using some very simple tools that you can pull into your own trading. I’ve used our Fibonacci measurement tool as well as a classic chart pattern that has been around for over half a century.
So take a few minutes and see what the crude oil buzz is all about and if it’s really is going to go to a $100 a barrel.
All the best,
Adam Hewison President, INO.com Co-creator, MarketClub
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Re: Is crude oil headed for $100 a barrel?
The USO prediction you made worked out well. So are you saying this is a good or bad time to by because you mentioned that it will decrease but ultimatley head higher?