Thread: coffee
View Single Post
  #4  
Old 03-16-2002, 03:44 PM
Guest
 
Posts: n/a
Default Re: how \'bout crude?



Crude right now is too dependent on two pieces of news to get too caught up in the trendline. If Russia continues to hold their exports and if the US attacks Iraq are probably about 95% of the determinant of the price right now. My gut feeling is that Russia will start pumping more, but maybe not announce it. If that is the case then your bet on it going up might just work for a very short time. Definitely don't sit on it for more than a week. Maybe best strategy is wait until after the supply numbers come out on Tuesday/Wednesday. If they are bullish on crude, then ride the trend. If not just sit it out for another week. Short term the prices can go up to about $25/barrel, not certain but its possible, but medium and long term its impossible to maintain that level as you say.
Reply With Quote