$64 WTI by Super Bowl Sunday
Posted: Sun Dec 31, 2017 10:45 am
This really smart guy in Dallas, is forecasting that WTI trades over $64/bbl by Super Bowl Sunday.
Read: https://www.linkedin.com/feed/update/ur ... 1772409856
Since WTI closed over $60/bbl on December 29th, this isn't a "far out" prediction. Had he made the prediction two months ago, when WTI was below strong resistance at $54, it would have seem totally crazy. Take a hard look at the chart on slide 10 of my 12/30 podcast. If oil closes above $61 within the next two weeks, there is now resistance until $64.
IMO we are one "Unplanned Supply Disruption" away from a MAJOR spike in oil prices.
Read: https://www.linkedin.com/feed/update/ur ... 1772409856
Since WTI closed over $60/bbl on December 29th, this isn't a "far out" prediction. Had he made the prediction two months ago, when WTI was below strong resistance at $54, it would have seem totally crazy. Take a hard look at the chart on slide 10 of my 12/30 podcast. If oil closes above $61 within the next two weeks, there is now resistance until $64.
IMO we are one "Unplanned Supply Disruption" away from a MAJOR spike in oil prices.