Steve Craig, an energy analyst at Elliot Wave International says that oil is destined to go down. Below USD25.00 (eventually)
The way I see it, OPEC tries to cut back supply to push up prices. Shale producers say, "Thanks a lot!" and carry on producing like crazy = Cheap oil.
@jamesw4, the honest truth is that what they say is merely an opinion in my eyes but what the chart tells me on the other side is what i trade. if the chart says we going up then i will go up. i follow what i see on the charts. check mmy Gold analysis i analysed monents before the NFP and i knew which side of the trade to be in. how people speculated that it would come out positive i didnt follow instead i followed what i saw on the chart and gues what? couple of thousands in my account and im done. stcik to your strategy not opinions of others. the market is always right." markets doesnt know me or others but it will do what it wishes it would" lets see how this turns up and we will chat about it in 2 weeks time