Monday, October 27, 2008

Crude Oil Price At Bottom?


Since my last update on June 08, the oil price jump to its new high of $148 per barrier on July 08. Well thats the end of the oil price rally. Every one of us should be happy now that the oil price is hitting $60. Now its time to look at how it was going to consolidate. I expect it to trading between my band of $55 - $90 level. For worst case it can go below $55 which may hit $30 - $40 (due to current financial crisis hitting around the globe if the global government failed to contain such meltdown). Anyhow low oil price is good for us, I just wondering when our Malaysia government going to reduce more on the petrol price???
Previous Crude Oil Post:
http://bursabulltrader.blogspot.com/2008/06/crude-oil-price-at-peak.html

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