Is there is any chance for further uptrend in crude price ......please give me a deataled answer?

Question

Is there is any chance for further uptrend in crude price ......please give me a deataled answer?

Answer 1

Yes, albeit small chance.  The price of crude is going to drift further down to the 100 to 105 mark.  by year end.     2009 crude average price will probably run in the 100 to 110 mark as demand will start to grow slowly again. Demand now is declining.....we are not driving our cars as much are we?  

Answer 2

Sure, if you mean will it quit going down. In fact a reversal started yesterday.

Answer 3

Oil has pretty much broken its uptrend.  It probably will not start heading up again for a while. It will probably either head lower or consolidate.  Either way I'm not bullish on it.

Answer 4

I agree with the others. I think the fair value is about $100. So I would be short rather than long. You never know though, what with troubles seem to be increasing in Russia (Georgia now, maybe Ukraine)

Answer 5

Oil prices have been going up for several years.  They will be going a lot lower as demand declines and the dollar rises.  As a result of the high prices of the past few years and the lower demand in the future we will have an excess of supply.  It will take several years for prices to recover.