DislikedI am hoping to start trading oil soon. My read of all factors tells me that oil prices will go over 100$ by mid 2010. would anyone care to share their predicitions for oil prices in the short term?Ignored
When I left Spot Currency Oil is where my trading headed in the Futures market. After many countless frustrating hours I learned the hard way to ignore all the Hyper News oil specific and rather monitor the Stock market Indices.
Since oil is a Stock driven commodity as well as by consumption / Production or lack of. It is best to be more in tune with the price action than the talking heads. Oil does not move quite like the currencies do you'd best watch the contract and sit on your hands for a bit of time before you pull the trigger. Don't be concerned where the Oil price can peak out at or bottom at. Just do your day to day trading with typical technical measures. The random movment is enough to blow up a 10k account in no time. It will not just peak one way for a quick cash cow pay day!!!
"Look Left Think Right"